Wednesday, February 4, 2009

Employment terms

1. EVALUATION: an act or instance of evaluating or appraising.

2. ASSESSMENTS: These tests ask you a series of questions and try to provide you with some sense of your personality and career interests.

3. BACKGROUND CHECK: Used by employers to verify the accuracy of the information you provide on your resume

4. BENEFITS: An important part of your compensation package, and part of the salary negotiation process.

5. COLD CALL: When a job-seeker approaches an employer (usually through an uninvited cover letter) who has not publicly announced any job openings.

6. COMPENSATION PACKAGE: The combination of salary and fringe benefits an employer provides to an employee.

7. GROSS PAY: Total of an employee's regular remuneration including allowances, overtime pay, commissions, and bonuses, etc., before any deductions are made.

8. FICA: The federal law which requires employers to withhold a portion of employee wages and pay them to the government trust fund which provides retirement benefits.

9. OSHA: Occupational Safety and Health Administration (OSHA)

10. NET PAY: Portion of a salary or wages that an employee actually gets (takes home) after paying all deductions and taxes.

11. DEDUCTIONS: Taxation: Fixed amount or percentage permitted by taxation authorities that a tax payer can subtract from his or her adjusted gross income to arrive at the taxabl income.

12. INTERNSHIP: One of the best types of work experiences for entry-level job-seekers because a majority of employers say experience is the most important factor in whether you're hired.

13. OUTSOURCING: Contracting, sub-contracting, or 'externalizing' non-core activities to free up cash, personnel, time, and facilities for activities where the firm holds competitive advantage.

14. NETWORKING: Involves developing a broad list of contacts

15. OCCUPATIONAL OUTLOOK HANDBOOK: Published by the U.S. Department of Labor, Bureau of Labor Statistics, this guide provides detailed information on more than 250 occupations.

16. SALARY: Agreed-upon and regular compensation for employment that may be paid in any frequency but, in common practice, is paid on monthly and not on hourly, daily, weekly, or piece-work basis.

17. TELECOMMUTING: Substitution of telecommunications for transportation in a decentralized and flexible work arrangement which allows part or full time employees to work at home via a computer attached to the employer's data network.

18. TEMPING: Working short employment stints with a variety of clients, usually through a temping agency or staffing firm.

19. THANK YOU LETTERS: After every intervew send thank you letters

20. WORK-PLACE VALUES: Concepts and ideas that define a job-seeker and influence your satisfaction

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