8. Earnings, rewards and benefits 2 CHECK YOUR ENGLISH VOCABULARY FOR BUSINESS AND ADMINISTRATION

CHECK YOUR ENGLISH VOCABULARY FOR BUSINESS AND ADMINISTRATION

8. Earnings, rewards and benefits 2

Complete the text with appropriate words and expressions from the box. The first one has been done for you. acceptance bonus commissions duvet days flexible indirect attendance bonus comradeship extras gainsharing insurance basic development extrinsic growth intrinsic benefits direct fixed incentive motivation performance-related pensions premium bonus production bonus profit sharing recognition satisfaction security share skill status Rewards for work fall into two main groups. The first, and in many opinions the most important, is that of 1. direct or 2.____________ rewards. These are real, material rewards, and include 3.____________ pay (a guaranteed wage or salary paid by the hour, or on a weekly or monthly basis), and 4. ____________ pay, which is linked to how well an employee or a group of employees works. This includes 5. ____________ - money paid to a salesperson or group of salespeople which is usually a percentage of the sales made. Some companies also offer 6. ____________ pay, usually given only to individual employees who work particularly well, or who make a significant contribution to the company. 7. ____________ , which is similar to this, is extra money paid to a group or company for increased productivity, and is often offered in order to increase 8. ____________ : it is also sometimes known as a 9. ____________ . If an employee takes less than the standard time to finish a task, s/he might receive a 10. ____________ . Some employers also offer an 11. ____________ for employees who are very rarely absent from work. If an employer is particularly keen to recruit somebody, they might offer him / her an 12. ____________ when s/he agrees to join the organisation. 13. ____________ , the practice of dividing profits among the employees, is another reward which is often offered. In addition to payment, other rewards may be offered. These include 14. ____________ (known informally as 15. ____________ ) such as a company car, 16. ____________ , free meals, 17. ____________ option schemes, holidays, health 18. ____________ and 19. ____________ (a new concept, especially common in the USA, in which an employee can call their office and say they do not feel like coming to work even though they are not ill). Benefits are usually 20. ____________ , which means that the employee is not able to choose what s/he gets, but some companies offer 21. ____________ benefits, where the employee can choose from a menu of benefits on offer. 22. ____________ plans, which offer employees increased rewards and benefits for good attendance, behaviour and productivity are becoming increasingly common. The second group of rewards are 23. ____________ or 24. ____________ . These are non-material, and include 25. ____________ (people enjoy being in an important position or a position of authority), job 26. ____________ , the opportunities for personal 27. ____________ , the chance to learn a new 28. ____________ , and career 29. ____________ opportunities. Safety and 30. ____________ at work can also be included in this group, and for most employees, 31. ____________ (being with a group of people you like and get on with) is also a very important reward.

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