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Level 6

Training and Rewarding Staff


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Bonus
Extra money for achieving a specific target, often paid annually
Commission
Extra money received for making a sale, normally a percentage of the value of the sale
External/Off-the-job Training
Happens away from the place of work
Fringe Benefit
Additional reward given to some or all employees as well as their pay
Induction Training
Training to inform new employees about the company and the roles, processes and policies within it
On-the-job Training
Happens at the place of work while completing work
Overtime
Extra pay for working longer than normal hours, often a higher rate than normal pay is rewarded
Salary
Quoted at an annual rate and paid monthly
Wage
Quoted at an hourly rate and paid weekly