Induction, Placement, and Salary (Grade 11 NSC Matric Business Studies): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
Induction
Induction
Process of welcoming new employees to a business
Placement
Placement
Putting selected candidates into specific positions effectively
Piecemeal payment method
Piecemeal payment method
Payment based on amount produced, not hours worked
Time-related payment method
Time-related payment method
Payment based on time spent working
Gross salary
Gross salary
Total amount company agrees to pay before deductions
Netto salary
Netto salary
Actual amount received after all deductions
Compulsory employee benefit
Compulsory employee benefit
UIF (Unemployment Insurance Fund)
Pension fund
Pension fund
Savings fund where employer & employee contribute for retirement
Performance-based incentive
Performance-based incentive
Extra payment for exceeding expected work performance
Staff discount
Staff discount
Buying company products/services at reduced prices