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BBI2O1- 2.2 Vocab
Introduction to Business: Unit 2, Chapter 6 Human Resources
Term | Definition |
---|---|
OCCUPATIONAL FORECASTS | Predictions about jobs. |
UNSKILLED LABOUR | Labour required for a job that almost anyone could do because it requires very little training. |
SEMI-SKILLED LABOUR | Labour required for a job that needs some instruction. Employees will be productive after a few days if training. |
SKILLED LABOUR | Labour reuiqred for positions that need training from an educational insitution and/or previous employment. |
PROFESSIONAL LABOUR | Highly trained people in specific occupations such as accountants and electritions. |
EMPLOYEE TURN-OVER | The rate at which employees leave a company voluntarily. |
HEADHUNTER | A recruitment agency or executive search company. |
EMPLOYEE REFERRAL PROGRAM | An incentive program that pays employees a bonus if they find qualified applicants for new positions with the company. |
ORIENTATION | A familiarization period for new employees. |
PERKS | A special benefit beyonD ordinary compensation. |
EXIT INTERVIEW | An interview with a departing employee. |
CORRECTIVE INTERVIEW | An interview with an employee who is having difficulties, in which problems are discussed openly and a plan for improvement is made. |
SEVERANCE PACKAGE | Final compensation paid to a laid-off or terminated employee. |
OUTPLACEMENT COUNSELLING | Assistance given to laid off or terminated employees in finding a new job. |
PENSION | Income paid to an employee who has retired from a company. |
COMPENSATION | The money and other benefits recieved by employees in exchange for their work. |
COMMISSION | A form of pay based on the amount of sales generated by the employee. |
PIECEWORK | A form of pay based on the amount of a particular product a person can make. |
LICENSING FEE/ ROYALTY | Money paid to obtain a license/ the fee paid to the owner of a patent or copyright by someone who used it. |
STOCK OPTIONS | Company shares offered at a lower-than-market price to employees of the company. |
WELLNESS PROGRAMS | A program that promotes and encourages the physical and emotional health of employees. |