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BBI2O1- 2.2 Vocab

Introduction to Business: Unit 2, Chapter 6 Human Resources

TermDefinition
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.
Created by: ShirleyT
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