People in business 

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  • People in business
    • full time
      • fewer staff needed
      • lower recruitment costs
      • lower training costs
      • easier to manage and control fewer staff
      • workers feel more secure
      • more motivated
      • earn more money
    • part time
      • two workers may be more flexible than one full time worker (e.g. able to cover for absence)
      • the number of customers may not justify a full-time worker, so a part time worker saves on wages
      • can be asked to work at busy times of the day or week. this could lead to better customer service and a competitive advantage.
    • how to recruit
      • website
      • job centre
      • poster
      • local newspaper
    • rewarding employees
      • monetary benefits (pay awards)
        • pay-wages and salaries
          • wage= when an employee is paid a fixed amount for each hour or day they work
          • salary= when a worker is paid a fixed amount per month or year, no matter what hours they work.
        • pension- pay given to workers after they have retired
        • bonuses- payments for reaching certain targets
      • non monetary(fringe) benefits
        • private health care
        • company car
        • discounts for company products
        • access to facilities
      • payment is determined by:
        • skills needed by the job
        • experience of the worker
        • how much other similar firms are paying


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