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17 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 the 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 thmselves.
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benefits
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the 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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entitle to the full retirement account. after a specified period of time, such as 5 years.
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flextime
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allows employees to choose their working hours within defined limits.
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Compressed work week
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is a work schedule that fits the normal 40-hour workweek into less than five days.
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Job rotation
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is a job design in which two people share one full-time position.
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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 occupayions.
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Collective bargaining
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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 cuts.
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professional organization
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an organization of people in a particular occupation that requires considerable training and specialized skills.
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Lobbying
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professional organizations try to influence public officials to take political action that benefits the profession.
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