Business Terms B2/B3

All forms of compensation and services the company provides to employees in addition to salaries and wages.

• Health Insurance

• Intrapreneur

• Defined Benefit Plan

• Employee Benefits

Insurance which provides protection against the expenses of health care.

• Health Insurance

• Intrapreneur

• Defined Benefit Plan

• Employee Benefits

An employee who is given funds and freedom to create a special unit or department within a company in order to develop a new product, process, or service.

• Health Insurance

• Intrapreneur

• Defined Benefit Plan

• Employee Benefits

A retirement plan that provides a specific monthly benefit to retired employees determined by their years of employment and amount f earnings while employed.

• Health Insurance

• Intrapreneur

• Defined Benefit Plan

• Employee Benefits

Term referring to retirement plan contributions made before taxes are calculated on the employee’s income.

• Profit-Sharing Plan

• Outsourcing

• Tax-Deferred

• Cafeteria Plan

A benefit plan that pays employees a small percentage of the company’s profits at the end of the year.

• Profit-Sharing Plan

• Outsourcing

• Tax-Deferred

• Cafeteria Plan

Hiring an outside firm to perform specialized tasks.

• Profit-Sharing Plan

• Outsourcing

• Tax-Deferred

• Cafeteria Plan

A benefit program in which employees can select the benefits that meet their personal needs.

• Profit-Sharing Plan

• Outsourcing

• Tax-Deferred

• Cafeteria Plan

A plan that lets employees choose their own work hours, within specified limits.

• Flex-Time

• Job-Sharing

• Cash Budget

• WTO (World Trade Organization)

An employment plan that allows two people to share one full-time job.

• Flex-Time

• Job-Sharing

• Cash Budget

• WTO (World Trade Organization)