Contemporary Canadian Business Ch2

Front 1

Relationship between an employer & an employee involving an exchange of labour power (work) for something of value (wage/benefits)

Back 1

Employment

Front 2

Contract defining terms & conditions of a contractual relationship between an employer & employee (reference to services performed, working hrs, compensation)

Back 2

Employment contract

Front 3

Person hired by employer to perform work according to terms of employment contract

Back 3

Employee

Front 4

Self employed- provide labour services in exchange for compensation

Back 4

Independent contractors

Hint 4

Run own businesses rather than serving as an employee for another organization/ person

Front 5

Individuals who share part ownership in a business

Back 5

Partners

Front 6

Business that helps match workers looking for jobs with businesses that require temporary help

Back 6

Temporary placement organization

Hint 6

Employment agency

Front 7

Unpaid individual-performs services for an organization voluntarily

Back 7

Volunteer

Front 8

Worker- receives on the job training at a workplace

Back 8

Intern

Front 9

Form of employment relationship- full time hours @a single employer.

- receive periodic pay raises, & provided with health benefits & pension plans

Back 9

Standard employment relationship

Hint 9

SER

Front 10

Less stable form of employment- PT, temporary/ variable working hrs, lower pay, fewer benefits, non unionized

Back 10

Nonstandard employment

Hint 10

NSE

Front 11

The unequal distribution of wealth to individuals or households in an economy

Back 11

Income inequality

Front 12

Individuals-perform work in a nonstandard employment relationship

-@risk of unemployment- jobs are insecure

- pay is low- live on cusp of poverty

Back 12

Vulnerable/ precarious workers

Front 13

A view of how economy should function.

- competitive markets= best means of organizing complex economies & societies

- forces of supply & demand if left to operate freely w. limited government interference= optimal assignment of skills & expertise throughout economy & fairest distribution of wealth

Back 13

Neoclassical perspective

Front 14

Markets- sufficient # of participants competing for same goods, services & customers -

-forces fix prices @ point where supply of good/service= demand for that good/service

Back 14

Competitive markets

Front 15

Argued by Smith- by pursuing own self interest, individuals="led by an invisible hand" to promote greater public interest, even if not intended

Back 15

Invisible hand of the market

Front 16

Employment standards law- min hourly wage that must be paid to an employee

Back 16

Min wage

Front 17

Belief of managerialists- employees & employers share common goal- maximizing productivity & profits= no conflict (as long as employers treat employees well, they will work hard in employers interests)

Back 17

Managerial perspective

Front 18

Perspective emphasizing imbalance of power between workers & employers

- value to society & economies of striking a reasonable balance between efficiency concerns of employers & equity concerns of workers

Back 18

Industrial pluralist perspective

Front 19

Amount of power workers have to determine their conditions of employment with employer (wages, hours, training, vacation time, health & safety measures & other)

Back 19

Bargaining power

Front 20

Government- intervenes in employment relationship by passing laws that restrict freedom of contact (human rights, health & safety, employment standards, employment equity laws)

Back 20

Activist government

Front 21

Process of negotiation measures between a group of employees (Union) & an employer (/group) leading to a collective agreement-applies to the entire group of employees

Back 21

Collective bargaining

Front 22

Idea that humans do not make decisions that would maximize their personal utility because they lack necessary info to access various options/lack capacity to assess info they have

Back 22

Bounded rationality

Front 23

Perspective-believes interests of labour (workers) & capital (owners & managers of ec. organizations)= irreconcilably in conflict

-capital objective: extract from labour max effort & control @ min cost

Back 23

Critical perspective

Front 24

Historical term- describes amount of $ working men were able to bring home to super their spouses & children

Back 24

Family (household) income

Hint 24

Today, used to describe total amount of income brought in by all members of a household/place of residence

Front 25

Measure of ℅ of employees who are members of a Union out of the total employees in the labour market

Back 25

Union density

Front 26

Additional amount of wages paid to unionized over non-unionized workers

Back 26

Union wage premium

Front 27

% of adults in the labour force market= actively seeking employment

Back 27

Unemployment rate

Front 28

All of the rules of interpretation of employment contracts applied by judges over the years (recorded in legal decisions)

Back 28

Common law of the employment contract

Front 29

Amount of time in advance employers must inform employees - services are no longer needed+ employment contract is ending

Back 29

Reasonable notice

Hint 29

Decided by judges & depends on length of employees service, age, & type of work performed

Front 30

Min. Job termination notice employers must give their employees

Back 30

Mandatory min statutory notice

Hint 30

Found in employment standards statutes- varies from province to province

Front 31

Fed government program- requires employers & employees to contribute into an unemployment insurance fund

- unemployed indvl must've paid into fund for period of time & actively search for employment

Back 31

Unemployment insurance program

Hint 31

Amount of benefits payable= % of employees prior earnings up to max amount

-benefits last for fixed period of time & vary depending on lvl of unemployment+ where they live

Front 32

3 types of laws that address discrimination in the labour relationship:

Back 32

1. Charter of Rights & Freedoms

2. Human rights legislation

3. Employment equity legislation

Front 33

Part of the Cdn constitution - governs rtnship b.w gov'ts & citizens- protecting fundamental rights & freedoms of Cdns against state interference

Back 33

Charter of Rights & Freedoms

Hint 33

Fundamental freedom of speech, Democratic, mobility, legal, equality, & language rights

Front 34

Grounds listed in human rights statutes

- discrimination- prohibited in employment on prohibited grounds (varies province to province)

Back 34

Prohibited grounds

Hint 34

Include race, gender, disability, age, ethnicity, colour, religion & sexual orientation

Front 35

Legal obligation required by human rights statutes requiring employers to accommodate employees-unable to perform requirements of a job because of a reason related to a prohibited ground

Back 35

Duty to accommodate

Hint 35

Eg. Religion or disability

Front 36

Generally considered to occur when the accommodation necessary to enable a worker to perform a job requirement= too onerous for employer to implement

Back 36

Undue hardship

Hint 36

A high standard for employers to meet

Front 37

Four designated groups under Canada's Employment Equity Act:

Back 37

Women, Aboriginals, ppl with disabilities, & members of visible minorities

Front 38

Term to describe model designed to remove systemic barriers- historically led to underrepresentation in Cdas labour market of ppl from 4 designated groups

Back 38

Employment equity

Hint 38

"Affirmative action/equal opportunity"

Front 39

Internal policies, practices, patterns, or biases- disadvantage some groups & favour others

Back 39

Systemic discrimination

Hint 39

Excludes certain classes of ppl (eg. a meeting at a "men's club"