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15 Cards in this Set
- Front
- Back
Deductions |
amounts subtracted from gross pay |
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Gross Pay |
the total amount earned before any deductions are subtracted |
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Incentive Pay |
money offered to encourage employees to strive for higher levels of performance |
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Net Pay |
the amount left after deductions are taken our of gross pay |
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Overtime |
time worked beyond the regular hours |
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Self-employment tax |
the total of 15.3 percent for Social Security and Medicare tax paid by people who work for themselves |
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Vested |
the point at which employees have full rights to their retirement accounts |
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Collective bargaining |
the process of negotiating a work contract for union members |
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Compressed work-week |
a work schedule that fits 40 hours of work into less than five days |
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Flextime |
A schedule that allows employees to choose their working hours within limits |
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Job Rotation |
A job in which employees are trained to do more than one specialized task |
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Job sharing |
a 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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Labor union |
a 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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Lobbying |
an attempt to influence public officials to pass laws and make decisions that benefit a particular group |
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Seniority |
a policy where the longer you work for an employer, the more job security and rights you have |