Business Terms

4. a continuous assessment of an employee's performance with the aim of providing feedback for improvement.
8. training that takes place outside of the workplace, often in a classroom or seminar setting.
13. a performance review system where feedback is gathered from an employee's subordinates, colleagues, supervisors, and sometimes clients.
15. payment based on hours worked (time rate) or the number of units produced (piece rate).
16. additional benefits given to employees, such as company cars, health insurance, or gym memberships.
17. the rate at which employees leave a company and are replaced by new employees.
18. the practice of moving employees between different tasks or roles to enhance their skills.
19. a fixed regular payment typically paid monthly or annually to an employee.

1. compensation linked to the profits generated by the company, shared with employees.
2. the process of improving a job by adding more meaningful tasks or giving employees more responsibility.
3. an evaluation of an employee's performance at the end of a set period to summarize their overall effectiveness.
5. programs that offer employees shares in the company as part of their compensation.
6. a payment to an employee based on the number or value of sales they achieve.
7. an employee assesses their own performance, often as part of a performance review process.
9. financial reward given to employees based on how well they perform their job.
10. increasing the scope of an employee's duties by adding more tasks to their job.
11. giving employees the authority and autonomy to make decisions and take responsibility for their work.
12. training provided to employees while they are performing their regular job tasks.
14. process of introducing new employees to a company, its culture, policies, and their role.