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Earnings and Job Advancement

Earnings and Job Advancement. “Opportunity is missed by most people because it is dressed in overalls and looks like work.” ----Thomas Edison. Earnings. Compensation: total amount of income and benefits you receive from your job.

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Earnings and Job Advancement

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  1. Earnings and Job Advancement “Opportunity is missed by most people because it is dressed in overalls and looks like work.” ----Thomas Edison

  2. Earnings • Compensation:total amount of income and benefits you receive from your job. • Benefits:various non-wage compensations provided to employees in addition to their normal wages or salaries

  3. Benefits Benefits can be based on pay grade or pay scale, education needed, tasks involved, skills used, abilities required, etc. Why do companies offer benefits? Benefits can lead to harder-working, more loyal and satisfied employees.

  4. Benefits Benefit Packages can include: • Medical insurance • Life & long-term disability Insurance • Leave benefits (sick days, vacation, etc.) • Retirement benefits

  5. Benefits • Some companies offer a cafeteria plan that all allow employees to choose the benefits that are the most important to them. • Some Cafeteria plans may offer employees the opportunity to purchase at a much reduced rate: life insurance, cancer insurance, short and long-term disability insurance; 401K retirement plans

  6. Compensation Package (Book calls it Fringe benefits) • Total compensation package: the sum total of all benefits, monetary and otherwise, an employee receives from a company. The packages are designed to attract and retain talent and dedicated workers.

  7. Wages • Gross Pay: The amount of money you make before any deductions are taken • Net Pay: The amount of money you actually bring home, all deductions have been taken out.

  8. Payroll Deduction Calculator • Payroll Calculator

  9. Deductions • FICA: acronym for Federal Insurance Contributions Act. Better knows as Social Security Tax • Federal Income Tax • State Income Tax • Insurance: Medical, short-and long-term disability, cancer, dreaded illness, etc. • Union Dues • Charity • Savings

  10. Salary • Hourly wage • Overtime pay • Piece Rate • Commissions • Tips • Bonuses • Fringe Benefits

  11. Activity • Research the Social Security Act of 1935 • Write a ½ page summary about the Act. • Write a ½ page discussion of your opinion of Social Security and how it was developed and how it is handled today.

  12. Statement of Earnings • Attached to your paycheck it shows your gross pay, deductions, and net pay. • Deductions are also called Withholdings

  13. Pay Raise • Automatic: raises are give at regular intervals: such as after 6 months, 5 years, 10 years, etc. • Merit raise: based on the amount and quality of an employee’s work.

  14. Job Change • Promotion: an advancement to a higher-level job within a company. The new position usually brings a new title, more money, and more responsibility • Promotion opportunities occur for two reasons 1) a new position is created within the company; 2) Or, a vacancy occurs because someone was promoted to higher position or left the company

  15. Job Change • Lack of opportunity with your present employer • You find a better opportunity elsewhere • You don’t like your present job • Change in personal /family situation • You lose your job

  16. Being Fired • Reasons a person gets fired from a job • Dishonesty, evasion, lack of integrity, stealing • Lying on a resume or application • Refusing to follow directions/orders • Talking too much, or conducting personal business at work • Unreliable work and behaviors

  17. Being Fired • Top 10 Reasons a person gets fired from a job 6. Can’t get along with other people 7. Too slow, make numerous errors 8. Miss too much work 9. Drug or alcohol problem 10. Inability to do the actual job 11. Sleeping at work 12. Sexual Harassment

  18. Signs that You Might be getting the Pink Slip • Are you no longer in the loop • Did you recently screw-up BIG TIME • Are people avoiding you? • Did you last performance review read like a train wreck • Has your company been recently sold • Have you been given impossible jobs with no chance for success

  19. Signs that You Might be getting the Pink Slip • Do you have less responsibility • Has your office recently been down-sized • Did you recently receive a pay freeze or worse yet a pay cut? • Have you seen a job posting for your company that matches your job description • Does everyone hate you • Have you recently been asked to take some time off

  20. Signs that You Might be getting the Pink Slip • Are you noticing paper trails between you and your supervisor? • Are you finding it impossible to get something approved? • Do your successes or accomplishments go without recognition? • Have your recently been demoted?

  21. What to do if you’re FIRED • Be prepared for the worst? Be preemptive • Don’t be argumentative: arguing with your employer serves no purpose; more than likely his/her mind is already made up before they talk to you. So, ask clarifying questions and leave on a good note • Re-evaluate your current situation; take a few days to regroup and put together your plans

  22. Characteristics of Effective Supervisors • Gives clear instructions • Praises others when they deserve it • Willing to take time to listen • Confident and self-assured • Advanced knowledge of work being supervised • Understands the groups problems and demographics

  23. Characteristics of Effective Supervisors • Gains the group’s respect through honesty, doesn’t try to appear more knowledge than is true, doesn’t care to say “I don’t know.” • Fair to everyone; in work assignments, consistent enforcement of policies and procedures; avoids favoritism. • Demands good work from everyone: maintains consistent standards of performance; doesn't expect group to "take up the slack" from a low-performing worker; enforces work discipline.

  24. Characteristics of Effective Supervisors • Gains the people's trust: willing to represent the group to higher management, regardless of agreement or disagreement with them. • Goes to bat for the group: will work for best and fair interests of the work group; loyalty to both higher management and the work group. • Humble, "not stuck up"; remembers that s/he's simply a person with a different job to do than the workers s/he supervises.

  25. Characteristics of Effective Supervisors • Easy to talk to: demonstrates a desire to understand without shutting off feedback through scolding, judging, moralizing. •  You must affirm the standards at every point in the process of personnel management. When hiring to fill a job opening, you specify the job requirements

  26. Characteristics of Effective Supervisors • Setting a positive example means living up to the standards you ask of the people you supervise -- always coming to work on time, refraining from lengthy personal phone calls, treating customers helpfully and respectfully • When conflicts arise between workers you supervise, you are responsible for seeing that the quality and quantity of work does not suffer.

  27. Critical ThinkingDo the following What characteristics of an effective supervisor do you have? Would you like to be a supervisor? Why? Why not?

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