Business terms meaning

Labour Turnover

• The rate at which employees leave a company and are replaced by new hires.

• The rate at which employees stay in a company.

• Employess getting a raise

• kicking out employees

Formative Appraisal

• The net departure of employees over a defined period of time

• • Ongoing feedback given to an employee, typically focusing on areas of improvement and growth during the job.

360-degree feedback

• information about reactions to a product, a person's performance of a task, etc. which is used as a basis for improvement.

• • A feedback system where employees receive confidential and anonymous feedback from those who work around them.

• organization—usually a group of people or a company—authorized by the state to act as a single entity and recognized as such in law for certain purposes

Salary

• • A fixed regular payment, usually monthly or biweekly, made by an employer to an employee.

• a foreign corporation owned more than 50 percent either in terms of market value or voting power.

Wages (time and piece rates)

• • Payments made based on the hours worked (time rate) or the number of items produced (piece rate).

• Salary