Business is the practice of making one's living or making money by producing or buying and selling products. It is also "any activity or enterprise entered into for profit."
A pension is a fund into which amounts are paid regularly during the individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be:
A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income.
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuities, bonus payments or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, disability insurance. Employment is typically governed by employment laws, organisation or legal contracts.
Overtime is the amount of time someone works beyond normal working hours. The term is also used for the pay received for this time. Normal hours may be determined in several ways:
United Kingdom labour law regulates the relations between workers, employers and trade unions. People at work in the UK can rely upon a minimum set of employment rights, which are found in Acts of Parliament, Regulations, common law and equity. This includes the right to a minimum wage of £10.42 for over-23-year-olds from April 2023 under the National Minimum Wage Act 1998. The Working Time Regulations 1998 give the right to 28 days paid holidays, breaks from work, and attempt to limit long working hours. The Employment Rights Act 1996 gives the right to leave for child care, and the right to request flexible working patterns. The Pensions Act 2008 gives the right to be automatically enrolled in a basic occupational pension, whose funds must be protected according to the Pensions Act 1995.
A layoff or downsizing is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees for business reasons, such as personnel management or downsizing an organization. Originally, layoff referred exclusively to a temporary interruption in work, or employment but this has evolved to a permanent elimination of a position in both British and US English, requiring the addition of "temporary" to specify the original meaning of the word. A layoff is not to be confused with wrongful termination. Laid off workers or displaced workers are workers who have lost or left their jobs because their employer has closed or moved, there was insufficient work for them to do, or their position or shift was abolished. Downsizing in a company is defined to involve the reduction of employees in a workforce. Downsizing in companies became a popular practice in the 1980s and early 1990s as it was seen as a way to deliver better shareholder value as it helps to reduce the costs of employers. Research on downsizing in the US, UK, and Japan suggests that downsizing is being regarded by management as one of the preferred routes to help declining organizations, cutting unnecessary costs, and improve organizational performance. Usually a layoff occurs as a cost-cutting measure. A study of 391 downsizing announcements of the S&P 100 firms for the period 1990-2006 found, that layoff announcements resulted in substantial increase in the companies’ stock prices, and that the gain was larger, when the company had prior layoffs. The authors suggested, that the stock price manipulation alone creates a sufficient motivation for publicly-traded corporations to adopt the practice of regular layoffs.
The FTSE 250 Index ( "Footsie") is a capitalisation-weighted index consisting of the 101st to the 350th largest companies listed on the London Stock Exchange, mostly covering the mid cap sector between large and small companies. Promotions and demotions to and from the index occur quarterly in March, June, September, and December. The Index is calculated in real-time and published every minute.
This article gives detailed information on the employment situation in Hong Kong.
A zero-hour contract is a type of employment contract in United Kingdom labour law, between an employer and an employee whereby the employer is not obliged to provide any minimum number of working hours to the employee.
Addleshaw Goddard LLP is an international law firm headquartered in London, the United Kingdom. It is structured as an LLP and has circa 1,400 lawyers including 325 partners in 17 offices located in Aberdeen, Doha, Dubai, Dublin, Edinburgh, Frankfurt, Glasgow, Hamburg, Leeds, London, Luxembourg, Manchester, Munich, Muscat, Paris, Singapore and Tokyo. The firm advises FTSE 100 and other major companies across corporate, commercial, finance and project, real estate and litigation business divisions with specialist fields such as private capital; energy, financial services, health and life sciences, real estate, retail and consumer, construction and transport sectors; and has a strong interest in tech.
The London Electricity Board was the public sector utility company responsible for the supply and distribution of electricity to domestic, commercial and industrial consumers in London prior to 1990. It also sold and made available for hire and hire-purchase domestic electrical appliances through local showrooms where electricity bills could also be paid. It was shortened to LEB in its green and blue logo, consisting of the three letters. As London Electricity plc it was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index.
Annual leave is a period of paid time off work granted by employers to employees to be used for whatever the employee wishes. Depending on the employer's policies, differing number of days may be offered, and the employee may be required to give a certain amount of advance notice, may have to coordinate with the employer to be sure that staffing is available during the employee's absence, and other requirements may have to be met. The vast majority of countries today mandate a minimum amount of paid annual leave by law.
SSE plc is a multinational energy company headquartered in Perth, Scotland. It is listed on the London Stock Exchange, and is a constituent of the FTSE 100 Index. SSE operates in the United Kingdom and Ireland.
Bank of Georgia Group PLC is a UK incorporated holding company. The group comprises a retail banking and payments business, and a corporate banking and investment banking business, both operating in Georgia. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Morgan Sindall Group plc is a leading British Construction & Regeneration group, headquartered in London employing around 6,700 employees and operating in the public, regulated and private sectors. It reports through six divisions of Construction & Infrastructure, Fit Out, Property Services, Partnership Housing, Urban Regeneration and Investments. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Labour in India refers to employment in the economy of India. In 2020, there were around 476.67 million workers in India, the second largest after China. Out of which, agriculture industry consist of 41.19%, industry sector consist of 26.18% and service sector consist 32.33% of total labour force. Of these over 94 percent work in unincorporated, unorganised enterprises ranging from pushcart vendors to home-based diamond and gem polishing operations. The organised sector includes workers employed by the government, state-owned enterprises and private sector enterprises. In 2008, the organised sector employed 27.5 million workers, of which 17.3 million worked for government or government owned entities. The Human Rights Measurement Initiative finds that India is only doing 43.9% of what should be possible at its level of income for the right to work. Employees are routinely taken advantage of by their employers because of loose labour laws across all industries in India.
Halma plc is a British global group of safety equipment companies that makes products for hazard detection and life protection based in Amersham, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.