To pass this unit, please study the 15 vocabulary words below.
- appraisal
- bonus
- commission
- cut
- face
- incentive
- increment
- minimum wage
- motivate
- overtime
- pension
- perk
- praise
- recognize
- severance package
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a formal assessment meeting between management and an employee to discuss work performance
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"During Martin's appraisal he asked for an increase in his salary."
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an extra amount of money paid to an employee on top of their normal salary
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"Traditionally, small companies paid bonuses once a year before Christmas."
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an extra amount of money paid to an employee for closing a sale
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"Salesmen receive a 5% commission on all sales."
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a reduction or decrease in something
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"Due to poor financial performance the company is considering pay cuts."
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to encounter or confront
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"The company is facing its greatest challenge."
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a reason to work harder or work more effectively
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"He was attracted to the job partly because of the salary, but also because of the excellent incentive scheme."
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something added or gained by a fixed amount
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"The starting salary was 22,000 with increments of 2.5%."
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the lowest amount of payment which a worker can legally receive
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"Tips are important for waiting staff as they are often on minimum wage."
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to give someone a good reason to do something
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"The company used incentives and bonuses to motivate their staff to work harder."
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extra time spent working, exceeding the normal contracted time
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"His wife was fed up with him working overtime every night."
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the money which a person receives after they retire
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"Mary is looking forward to her retirement but she is also worried that her pension will not be as high as she had hoped."
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a non-cash benefit
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"The company offers excellent perks to its staff including a company car and gym membership."
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written or spoken approval or compliments
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"Andre was annoyed that he didn’t get a pay rise even though he received praise from his supervisor."
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to acknowledge with a show of appreciation
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"The award recognizes Georges’ hard work and dedication."
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monies or other benefits which are given to an employee who has been dismissed
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"When the company closed all staff received generous severance packages."