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- A discharge ends employment due to inappropriate work behavior where as a layoff is a temporary or permanent reduction in the number of employees due to changing business conditions
- Whats the difference between a discharge and a layoff?
- Welcome to Business Essentials
- I didn't hear what Mr.D said about economic cycles affecting job opportunities because I was on my phone!! Can you tell me about it?
- He said that changes in the economy happen when businesses expand due to consumers buying more goods/services. This causes new jobs to be created. When more workers are employees, they have more money to spend on goods/ services further expanding the economy.
- What else did he say about it?
- He also said that if prices for goods/services go up, consumers decrease how much they buy. Also if interest rates go up consumers/businesses are less able to borrow money. Both of these cause demand for goods/services to go down. Thus jobs and/or work hours get cut. This means there is less money for workers which means consumer spending/demand goes down and the economy shrinks even more.
- Hi sweetie what did you learn at school today?
- I learned about the four broad categories of human resources activities. They are, planning and staffing, performance management, compensation/benefits, and employee relations
- Whats up! Did you learn anything cool today?
- I learned about the difference between salary/wages and benefits. Lets go talk about it on the coach!
- Sounds like you are learning a lot of good things in Business!!
- Salary/wages are direct payments of money to employees for work (this can include wages--pay for hours worked), salary (payment of a specific amount money each week/every two weeks//monthly) commission (pay based on a percentage of what employees sell) and piece rate (pay of a specific amount for each unit produced) whereas benefits are compensation in forms other than direct payment (such as employer paid/provided insurance, vacation, retirement plans and wellness/fitness programs.)
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