Unit 10: Vocabulary

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