Principles of Business & Finance Objective 2.02

To obtain, train, and compensate employees to accomplish the goals of the business

• Benefits

• Staffing

• Transfers

• Planning

• Downsizing

Analyze information, set goals based on information, and make decisions to accomplish the goals

• Benefits

• Staffing

• Transfers

• Planning

• Downsizing

A planned reduction in the number of employees needed in a firm in order to reduce costs and make the business more efficient

• Benefits

• Staffing

• Transfers

• Planning

• Downsizing

Other items given to employees for working, such as health insurance, vacation time, sick leave, etc.

• Benefits

• Staffing

• Transfers

• Planning

• Downsizing

The assignment of an employee to another job in the company with a similar level of responsibility

• Benefits

• Staffing

• Transfers

• Planning

• Downsizing

A leadership style that gives little or no direction to employees

• Lassiez-faire

• Democratic

• Autocratic

• Implementing

The amount of money paid to an employee for work performed, including salary & wages

• Commission

• Termination

• Compensation

• Implementing

All of the people 16 years or older who are employed or who are looking for a job

• Workforce

• Transfer

• Strategic

• Staffing

The end of an employment relationship between a company and an employee

• Terminations

• Compensation

• Promotion

• Implementing

A predetermined or set amount of money paid directly to an employee per week, bi-weekly, or monthly

• Salary

• Controlling

• Transfer

• Strategic