Business Word/Phrase of the Day

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PENSION /ˈpent .ʃən/

27 Aug 2012

noun

  • a sum of money paid regularly by the government or a private company to a person who does not work any more because they are too old or they have become ill
Example Sentences:They find it difficult to live on their government pension.
I’m glad I took out a private pension when I was young.
 

TO TAKE EARLY RETIREMENT  

26 Aug 2012

phrase

  • If you take early retirement, you stop working before the normal retirement age and generally receive your company pension (all or part of it) early.
Example Sentences:He was a stockbroker for 10 years and is now taking early retirement at the age of 40!
If I’m lucky the company will offer me early retirement.
 

RETIREMENT /rɪˈtaɪə.mənt/

25 Aug 2012

noun

  • when you leave your job and stop working, usually because you are old
Example Sentences:The retirement age for men in the UK is 65.
We wish you a long and happy retirement.
 

GOLDEN HANDSHAKE /ˈgəʊl.dən ˈhænd.ʃeɪk/

24 Aug 2012

phrase

  • a usually large payment made to someone when they leave their job, either when their employer has asked them to leave or when they are leaving at the end of their working life, as a reward for very long or good service in their job
Example Sentences:She's set up a production company with her golden handshake.
I wonder how much his golden handshake was worth.
 

TO MAKE SOMEONE REDUNDANT  

23 Aug 2012

phrase

  • To make a person leave their job because they are no longer necessary to the efficient working of the company
Example Sentences:To keep the company alive, half the workforce is being made redundant.
As the company is no longer profitable, quite a few staff will have to be made redundant.
 

UNFAIR DISMISSAL /ʌnˈfeər dɪˈsmɪs.əl/

22 Aug 2012

phrase

  • an employer's action when terminating an employee's employment contrary to the requirement of the country’s labour laws
Example Sentences:The court forced the company to pay her $45,000 for unfair dismissal.
If you feel the company has not followed the correct procedure for firing you, you could claim for unfair dismissal.
 

OVERTIME /ˈəʊ.və.taɪm/

21 Aug 2012

noun

  • extra payment for working after the usual time
Example Sentences:You can earn some overtime by working after 6.00 p.m.
How many hours overtime does your company allow you to do each month?
 

EXPERIENCE / ɪkˈspɪə.ri.ənt s/

20 Aug 2012

noun

  • (the process of getting) knowledge or skill from doing a job
Example Sentences:This applicant has over 10 years experience in this field.
How much experience do you have working with computer databases?
 

WORK SHADOWING /wɜːk ˈʃæd.əʊɪŋ/

19 Aug 2012

phrase

  • following a specific employee to learn about their job
Example Sentences:For the next week you’ll be work shadowing Sharon on the assembly line.
One of the best ways to learn a new job is to work shadow another employee.
 

SALES FORCE seɪlz fɔrs

15 Feb 2012

Noun

  • all the people who sell for a company.
Example Sentence: The company is hoping to expand its sales force.
 
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