Unit 10 Vocabulary: Earnings and Rewards

Verb (infinitive)
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Appraisal
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a formal assessment meeting between management and an employee to discuss work performance
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During Martin's appraisal he asked for an increase in his salary.
Noun (thing)
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Bonus
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an extra amount of money paid to an employee on top of their normal salary
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Traditionally, small companies paid bonuses once a year before Christmas.
Noun (thing)
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Commission
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an extra amount of money paid to an employee for closing a sale
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Salesmen receive a 5% commission on all sales.
Adjective
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Cut
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a reduction or decrease in something
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Due to poor financial performance the company is considering pay cuts.
Verb (infinitive)
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Face
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to encounter or confront
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The company is facing its greatest challenge.
Noun (thing)
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Incentive
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a reason to work harder or work more effectively
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He was attracted to the job partly because of the salary, but also because of the excellent incentive scheme.
Noun (thing)
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Increment
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something added or gained by a fixed amount
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The starting salary was 22,000 with increments of 2.5%.
Noun (thing)
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Minimum wage
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the lowest amount of payment which a worker can legally receive
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Tips are important for waiting staff as they are often on minimum wage.
Verb (infinitive)
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Motivate
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to give someone a good reason to do something
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The company used incentives and bonuses to motivate their staff to work harder.
Noun (thing)
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Overtime
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extra time spent working, exceeding the normal contracted time
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His wife was fed up with him working overtime every night.
Noun (thing)
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Pension
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the money which a person receives after they retire
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Mary is looking forward to her retirement but she is also worried that her pension will not be as high as she had hoped.
Noun (thing)
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Perk
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a non-cash benefit
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The company offers excellent perks to its staff including a company car and gym membership.
Verb (infinitive)
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Praise
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written or spoken approval or compliments
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Andre was annoyed that he didn’t get a pay rise even though he received praise from his supervisor.
Verb (infinitive)
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Recognize
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to acknowledge with a show of appreciation
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The award recognizes Georges’ hard work and dedication.
Noun (thing)
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Severance package
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monies or other benefits which are given to an employee who has been dismissed
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When the company closed all staff received generous severance packages.
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