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15 Cards in this Set
- Front
- Back
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gross pay
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is the total amount you earn before any deductions are subtracted.
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overtime
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is 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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when all deductions are taken out of your gross pay
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self-employment tax
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the total social security and medicare tax, including employer-matching contributions, 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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flexible schedules.
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compressed workweek
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is a work schedule that fits the normal 40 hours workweek into less than five days.
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job rotation
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is a job design in wich employees are trained to do more than one specialized task
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job sharing
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is a job design in which two people share one full-time position.
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labor union
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is 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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collective bargaining
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which is the process of negotiating the terms of employment for union members.
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seniority
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a policy in which the last workers hired will be the first fired when jobs must be cut.
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