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15 Cards in this Set
- Front
- Back
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Gross Pay
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The total amount you earn before any deductions are subtracted.
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Overtime
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Time worked beyond the regular hours.
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Deductions
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Amounts subtracted from your gross pay
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Net Pay
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The amount left after deductions have been subtracted from your gross pay.
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Self-employment Tax
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The total social security and Medicare tax, including employer matching comtributions, paid by people who work for themselves.
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Benefits
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Forms of employee compensation in addition to pay.
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Incentive Pay
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Money offered to encourage employees to strive for higher levels of performance.
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Vested
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Entitled to the full retirement account.
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Flextime
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Allows employee to choose their working hours within defined limits.
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Compressed Workweek
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Work schedule that fits the normal 40-hour workweek into less than five days.
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Job Rotation
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Job design in which employees are trained to do more than one specialized task.
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Job Sharing
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Job design in which two people share one full-time position.
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Labor Union
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Group of people who work in the same or similar occupations, organized for the benefit of all employees in these occupations.
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Collective Bargaining
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Process of negotiating the terms of employment for union members.
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Seniority
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Policy in which the last workers hired will be the first fired when jobs must be cut.
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