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Remuneration
Remuneration includes any payment made under a contract for services.
Salary
Is a term used most commonly to describe a base pay which is set at an annual rate and remains unchanged from one pay period to the next, regardless of the number of hours an employee may work.
Succession planning
Involving identifying a potential candidate to replace core individual employees either known to be leaving the firm at some point in the future and/or whose sudden departure would pose a risk to the operation of the firm.
Summary dismissal
The act of dismissing personnel immediately, usually because the person has committed some act of Gross Misconduct.
Suspension
A form of disciplinary action resulting in an employee being sent home without pay for a specified period of time.
Tangible rewards
Rewards which can be physically touched or held (i.e. a gift certificate, gifts in the form of merchandise, or a savings bond).
Total Remuneration
The complete pay package awarded employees on an annual basis, including all forms of money, benefits, services, and in-kind payments.
Unions
Groups of workers who have formed incorporated associations relating to the type of work that they perform.
Unjustifiable dismissal
The act of terminating an employee’s employment agreement for a reason that the Employment Relations Authority or Employment Court regards as unjustifiable.
Wages
Wages – is a term used most commonly to describe a base pay which is calculated on a hourly, daily or weekly basis. Depending on whether the employment is permanent, temporary or casual, full time or part-time basis, or according to the requirements of the applicable employment agreement. The amount of wages will vary (usually) according to the number of hours the employee works.