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Bonus Payment
A bonus payment is usually made to employees in addition to their base salary as part of their wages or salary. While the base salary usually is a fixed amount per month, bonus payments more often than not vary depending on known criteria, such as the annual turnover, or the net number of additional customers acquired, or the current value of the stock of a public company. Thus bonus payments can act as incentives for managers attracting their attention and their personal interest towards what is seen as gainful for their companies' economic success. There are widely‐used elements of pay for performance and working well in many instances, including when a fair share of an employees participation in the success of a company is desired. There are, however, problematic instances, most notably when bonus payments are high. When they are tied to possibly short-lived figures such as an increase in monthly turnover, or cash flow generated from an isolated marketing action, such figure ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bonus Payments In The UK Infographic, 2013
Bonus commonly means: * Bonus, a Commonwealth term for a distribution of profits to a with-profits insurance policy * Bonus payment, an extra payment received as a reward for doing one's job well or as an incentive Bonus may also refer to: Places * Bonus, Pennsylvania * Bonus, Texas * 10028 Bonus, a main belt asteroid People * Bonus (patrician) (6th-century–627), Byzantine statesman and general, active in the reign of Heraclius * Bonus (Sirmium), a Byzantine general, active in the reign of Justin II (r. 565–578) * Petrus Bonus, a physician Brands and enterprises * Bónus, an Icelandic supermarket * TeST TST-14 Bonus, a Czech glider * Bofors/Nexter Bonus, an artillery round Energy * Bonus Energy A/S, a Danish wind turbine manufacturer, later called Siemens Wind Power * Boiling Nuclear Superheater (BONUS), a decommissioned nuclear facility in Puerto Rico Games and sports * Bonus (basketball) In the sport of basketball, the bonus situation (also called the penalty situation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employees
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuities, bonus payments or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, disability insurance. Employment is typically governed by employment laws, organisation or legal contracts. Employees and employers An employee contributes labour and expertise to an endeavo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wages
A wage is payment made by an employer to an employee for work done in a specific period of time. Some examples of wage payments include compensatory payments such as ''minimum wage'', ''prevailing wage'', and ''yearly bonuses,'' and remunerative payments such as ''prizes'' and ''tip payouts.'' Wages are part of the expenses that are involved in running a business. It is an obligation to the employee regardless of the profitability of the company. Payment by wage contrasts with salaried work, in which the employer pays an arranged amount at steady intervals (such as a week or month) regardless of hours worked, with commission which conditions pay on individual performance, and with compensation based on the performance of the company as a whole. Waged employees may also receive tips or gratuity paid directly by clients and employee benefits which are non-monetary forms of compensation. Since wage labour is the predominant form of work, the term "wage" sometimes refers to a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salary
A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. From the point of view of running a business, salary can also be viewed as the cost of acquiring and retaining human resources for running operations, and is then termed personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts. Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary. Salary is typically determined by comparing market pay rates for people performing similar work in similar industries in the same region. Salary is also determined by leveling the pay rates and salary ranges established by an individual employer. Salary is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Incentive
In general, incentives are anything that persuade a person to alter their behaviour. It is emphasised that incentives matter by the basic law of economists and the laws of behaviour, which state that higher incentives amount to greater levels of effort and therefore, higher levels of performance. Divisions Incentives can be broken down into two categories; intrinsic incentives and extrinsic incentives. The motivation of people's behaviour comes from within. In activities, they are often motivated by the task itself or the internal reward rather than the external reward. There are many internal rewards, for example, participating in activities can satisfy people's sense of achievement and bring them positive emotions. An intrinsic incentive is when a person is motivated to act in a certain way for their own personal satisfaction. This means that when a person is intrinsically incentivised, they perform a certain task to please themselves and are not seeking any external reward, nor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Management
Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a government body. It is the art and science of managing resources of the business. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. "Run the business" and "Change the business" are two concepts that are used in management to differentiate between the continued delivery of goods or services and adapting of goods or services to meet the changing needs of customers - see trend. The term "management" may also refer to those people who manage an organization—managers. Some people study management at colleges or universities; major degrees in management includes the Bachelor of Commerce (B.Com.), Bachelor of Business Adminis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pay For Performance (human Resources)
Performance-related pay or pay for performance, not to be confused with performance-related pay rise, is a salary or wages paid system based on positioning the individual, or team, on their pay band according to how well they perform. Car salesmen or production line workers, for example, may be paid in this way, or through commission. Many employers use this standards-based system for evaluating employees and for setting salaries. Standards-based methods have been in ''de facto'' use for centuries among commission-based sales staff: they receive a higher salary for selling more, and low performers do not earn enough to make keeping the job worthwhile even if they manage to keep the job. In effect, the salary would be re-evaluated up, or down, periodically (usually annually) based on the performance of the individual or team. The reward is the salary: with an expectation to be high on the pay band for high performance and low on the band for low performance. In comparison, the per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gerry Harvey
Gerry Harvey (born 18 September 1939) is an Australian entrepreneur best known for being the executive chairman of Harvey Norman Holdings, a company which runs Australian retail chain Harvey Norman. He co-founded it with Ian Norman in 1982. Biography Harvey was born in rural New South Wales and attended school at Bathurst and Katoomba before moving to Sydney to go to university when he was 17, but he dropped out. He got his start early, selling vacuum cleaners and fridges door-to-door for Goodwins of Newtown. When he was younger, Harvey was determined to be a farmer. Harvey first met Ian Norman while both were working as door-to-door vacuum salesmen. They partnered to open their first store in Sydney in 1961. The chain, which was called Norman Ross, expanded to forty-two stores with annual sales of 240 million by 1979. This company was sold in 1982 to firstly Grace Bros. for $23 million, then was onsold to Alan Bond's Walton Bond company. After that transaction was com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Golden Handshake
A golden handshake is a clause in an executive employment contract that provides the executive with a significant severance package in the case that the executive loses their job through firing, restructuring, or even scheduled retirement. This can be in the form of cash, equity, and other benefits, and is often accompanied by an accelerated vesting of stock options. According to Investopedia, a golden handshake is similar to, but more generous than a golden parachute because it not only provides monetary compensation and/or stock options at the termination of employment, but also includes the same severance packages executives would get at retirement. The term originated in Britain in the mid-1960s. It was coined by the city editor of the ''Daily Express'', Frederick Ellis. It later gained currency in New Zealand in the late 1990s over the controversial departures of various state sector executives. "Golden handshakes" are typically offered only to high-ranking executives by major ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neil Woodford
Neil Russell Woodford CBE (born March 1960) is a former fund manager and the founding partner of the defunct Woodford Investment Management. Early life Woodford was born in March 1960. He was brought up in Berkshire and attended Maidenhead Grammar School. His father was a printer. He graduated in Economics and Agricultural Economics from the University of Exeter in 1981. Early career Woodford began his career with the Reed Pension Fund and TSB. In 1987 he became a fund manager with Eagle Star, then moved to Invesco Perpetual in 1988. He has also pursued postgraduate studies in Finance at the London Business School.Invesco Perpetual Income Fund, ''Invesco Perpetual'' Invesco Perpetual Woodford ran the Invesco Perpetual Income, and Invesco Perpetual High Income funds, with respectively £10.36 billion and £13.64 billion in assets.Invesco Perpetual High Income Fund, ''Invesco Perpetual'' Woodford was vocal over the 2012 proposed merger between British defence company BAE System ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bonus–malus
The term bonus–malus (Latin for 'good-bad') is used for a number of business arrangements which alternately reward (bonus) or penalize (malus). It is used, for example, in the call center and insurance industries. Call centers In call centers, a bonus–malus arrangement is a section in the contract between the company buying the call center services (buyer) and the company providing the call center services (call center) allowing for a payment to be made from one company to the other. As part of the contract, both companies agree on a set of Key Performance Indicators (KPIs). These are measurements for how the call center is performing. If the call center is performing poorly, then there would be a malus payment (payment from the call center company to the buyer). If the call center is doing well, then there is a bonus payment from the buyer to the call center company. Bonus–malus payments are in addition to the normal cost of call center services. Insurance In in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
End-of-year Bonus
A thirteenth salary, or end-of-year bonus, is an extra payment given to employees at the end of December. Although the amount of the payment depends on a number of factors, it usually matches an employee's monthly salary and can be paid in one or more installments (depending on country). History In Italy it was originally named gratifica natalizia''' ("Christmas bonus") being a voluntary donation without any obligation that the employer recognized to its employees when entering the Christmastide and was legalized in the 1937 collective labour agreement for factory labour and was extended to all kind of works in 1946 and by presidential decree in 1960. In the Philippines it was legalized in December 1975 responding the problem of update the minimum wage. The minimum wage had not been raised for five years, and no longer matched the cost of living. President Ferdinand Marcos issued Presidential Decree No. 851 (at this time Marcos ruled by decree without a legislature), order ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
