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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] |
Employer
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] |
Job (role)
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 endea ... [...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] |
Gratuity
A gratuity (often called a tip) is a sum of money customarily given by a customer to certain service sector workers such as hospitality for the service they have performed, in addition to the basic price of the service. Tips and their amount are a matter of social custom and etiquette, and the custom varies between countries and between settings. In some countries, it is customary to tip servers in bars and restaurants, taxi drivers, hair stylists and so on. However, in some places tipping is not expected and may be discouraged or considered insulting. The customary amount of a tip can be a specific range or a certain percentage of the bill based on the perceived quality of the service given. It is illegal to offer tips to some groups of workers, such as U.S. government workers and more widely police officers; the tips may be regarded as bribery. A fixed percentage service charge is sometimes added to bills in restaurants and similar establishments. Tipping may not be expecte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Job Interview
A job interview is an interview consisting of a conversation between a job applicant and a representative of an employer which is conducted to assess whether the applicant should be hired. Interviews are one of the most popularly used devices for employee selection. Interviews vary in the extent to which the questions are structured, from a totally Unstructured interview, unstructured and free-wheeling conversation to a structured interview in which an applicant is asked a predetermined list of questions in a specified order; structured interviews are usually more accurate predictors of which applicants will make suitable employees, according to research studies. A job interview typically precedes the Recruitment, hiring decision. The interview is usually preceded by the evaluation of submitted résumés from interested candidates, possibly by examining job applications or reading many resumes. Next, after this screening, a small number of candidates for interviews is selected. P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Piecework
Piece work (or piecework) is any type of employment in which a worker is paid a fixed piece rate for each unit produced or action performed, regardless of time. Context When paying a worker, employers can use various methods and combinations of methods. Some of the most prevalent methods are: paid a wage by the hour (known as "time work"); paid an annual salary; salary plus commission (common in sales jobs); base salary or hourly wages plus gratuities (common in service industries); salary plus a possible bonus (used for some managerial or executive positions); salary plus stock options (used for some executives and in start-ups and some high tech firms); salary pool systems; gainsharing (also known as "profit sharing"); paid by the piece – the number of things they make, or tasks they complete (known as ‘output work’); or paid in other ways (known as ‘unmeasured work’). Some industries where piece rate pay jobs are common are agricultural work, cable installation, c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commission (remuneration)
Commissions are a form of variable-pay remuneration for services rendered or products sold. Commissions are a common way to motivate and reward salespeople. Commissions can also be designed to encourage specific sales behaviors. For example, commissions may be reduced when granting large discounts. Or commissions may be increased when selling certain products the organization wants to promote. Commissions are usually implemented within the framework on a sales incentive program, which can include one or multiple commission plans (each typically based on a combination of territory, position, or products). Payments are often calculated using a percentage of revenue, a way for firms to solve the principal–agent problem by attempting to realign employees' interests with those of the firm. However, models other than percentages are possible, such as profit-based approaches, or bonus-based approaches. Commissions allow sales personnel to be paid (in part or entirely) based on products o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employee Stock Option
Employee stock options (ESO) is a label that refers to compensation contracts between an employer and an employee that carries some characteristics of financial options. Employee stock options are commonly viewed as an internal agreement providing the possibility to participate in the share capital of a company, granted by the company to an employee as part of the employee's remuneration package. Regulators and economists have since specified that ESOs are compensation contracts. These nonstandard contracts exist between employee and employer, whereby the employer has the liability of delivering a certain number of shares of the employer stock, when and if the employee stock options are exercised by the employee. The contract length varies, and often carries terms that may change depending on the employer and the current employment status of the employee. In the United States, the terms are detailed within an employer's "Stock Option Agreement for Incentive Equity Plan". Es ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labour Law
Labour laws (also known as labor laws or employment laws) are those that mediate the relationship between workers, employing entities, trade unions, and the government. Collective labour law relates to the tripartite relationship between employee, employer, and union. Individual labour law concerns employees' rights at work also through the contract for work. are social norms (in some cases also technical standards) for the minimum socially acceptable conditions under which employees or contractors are allowed to work. Government agencies (such as the former US Employment Standards Administration) enforclabour law(legislature, regulatory, or judicial). History Following the unification of the city-states in Assyria and Sumer by Sargon of Akkad into a single empire ruled from his home city circa 2334 BC, common Mesopotamian standards for length, area, volume, weight, and time used by artisan guilds in each city was promulgated by Naram-Sin of Akkad (c. 2254–2218 BC), Sargo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employment Contract
An employment contract or contract of employment is a kind of contract used in labour law to attribute rights and responsibilities between parties to a bargain. The contract is between an "employee" and an "employer". It has arisen out of the old master-servant law, used before the 20th century. Employment contracts relies on the concept of authority, in which the employee agrees to accept the authority of the employer and in exchange, the employer agrees to pay the employee a stated wage (Simon, 1951). Terminology A contract of employment is usually defined to mean the same as a "contract of service". A contract of service has historically been distinguished from a contract for the supply of services, the expression altered to imply the dividing line between a person who is "employed" and someone who is "self-employed". The purpose of the dividing line is to attribute rights to some kinds of people who work for others. This could be the right to a minimum wage, holiday pay, sick ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bargaining Power
Bargaining power is the relative ability of parties in an argumentative situation (such as bargaining, contract writing, or making an agreement) to exert influence over each other. If both parties are on an equal footing in a debate, then they will have equal bargaining power, such as in a perfectly competitive market, or between an evenly matched monopoly and monopsony. There are a number of fields where the concept of bargaining power has proven crucial to coherent analysis, including game theory, labour economics, collective bargaining arrangements, diplomatic negotiations, settlement of litigation, the price of insurance, and any negotiation in general. Calculation Several formulations of bargaining power have been devised. A popular one from 1951 and due to American economist Neil W. Chamberlain is: :We may define bargaining power (of A, let us say) as being the cost to B of ''disagreeing'' on A's terms relative to the costs of ''agreeing'' on A's terms ... Stated in a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gig Economy
Gig workers are independent contractors, online platform workers, contract firm workers, on-call workers, and temporary workers. Gig workers enter into formal agreements with on-demand companies to provide services to the company's clients. In many countries, the legal classification of gig workers is still being debated, with companies classifying their workers as "independent contractors", while organized labor advocates have been lobbying for them to be classified as "employees", which would legally require companies to provide the full suite of employee benefits like time-and-a-half for overtime, paid sick time, employer-provided health care, bargaining rights, and unemployment insurance, among others. In 2020, the voters in California approved 2020 California Proposition 22, which created a third worker classification whereby gig-worker-drivers are classified as contractors but get some benefits, such as minimum wage, mileage reimbursement, and others. Etymology of ''gig'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
