People in business
- Created by: Faith-ella Cottrell
- Created on: 22-04-16 09:08
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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
- pay-wages and salaries
- 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
- monetary benefits (pay awards)
- full time
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