Unit 7 vocabulary

1. Academic Vocabulary
Unit 7: Evolution of World of Work

2. Global Society
• The tendency of
businesses and
investment funds to move
beyond domestic and
national markets to other
markets around the globe.
Thereby increasing the
interconnectedness of
different markets.

3. Green Company
• An ongoing trend
where companies and
businesses operate in
an environmentally
responsible manner.

4. • Flex Time: A variable work schedule, it provides an
alternative to the traditional 9:00 to 5:00.
• Employees like it because they can make their work
schedule fit their personal lives a bit better (dealing
with their children, college classes, doctor's visits,
etc...).
• Employers sometime like it because occasionally they
can lower overhead by having employees share work
space, can offer more customer service to their clients
due to employees being available for a longer window
of time.
Flex-Time

5. Comp
Time
• Time that an employee is allowed to take off in
lieu of receiving overtime pay. This is a form of
compensation in lieu of money for overtime.

6. Telecommuting
• Some business will allow an employee
to work at home via a computer, fax,
webinars, Skype, Face-Time, and
phone communication. This is a
simple "green" business strategy as it
takes a vehicle off the road.

7. Fringe Benefits
• Advantages offered in
addition to salary such as -
life insurance, retirement
schemes, paid time off,
company car, etc...

8. Unemployment Benefits
• Payment made by the state to an unemployed person.

9. Full-Time & Part-Time Employee
There is no specific number of hours that an employee must work before he becomes a full-time
employee under federal law. That definition is created by the employer.
• Most employers define full-time employees
as those who regularly work 35 to 40 hours
a week. These employees typically are
entitled to benefits such as paid sick leave
and vacation and insurance coverage.
• Part-time employees are any employees
who work less than a full-time schedule and
may receive some benefits. Temporary
employees may work either a full or part-
time schedule but are usually hired for a
specific project or for a finite period of time
and do not receive any benefits.

10. Contract Employee vs. Full Time Employee