Many employers will hire workers for a probationary period. During this time, the employee will work to show if he or she can do the job effectively. At the end of the probationary period, the employee will usually either be offered a permanent job or be let go. A typical probation period is about three months. Often an employee will not receive “benefits” until after the probationary period is over.
Although companies use “salary scales” to determine the salary for a job, in some cases, an employee will be in a position to negotiate a salary.That is, there will not be a firm wage or salary for a position.The pay will be determined on the basis of the employee’s education, experience, abilities, and negotiating skill. If you are in such a situation, make sure that you represent yourself well and seek out a fair and appropriate wage or salary. Learn more
Any new business will need a business plan.The business plan will guide the start-up of the business and, if necessary, also be used to help raise money for the business. See page 235 for a list of the sections that are common in a business plan.There are also sample business plans and business plan guides available on the Internet. Learn more
Often, employers provide vacation pay as a percentage of net pay for the period of time worked, rather than providing time off.This method is most common for parttime workers.The percentage of pay for paid vacation time is governed by provincial or territorial labour legislation.
When you are working, Employment Insurance, or EI, is subtracted from your pay. This is money that is paid to the federal government to support programs designed to assist those who are unemployed or underemployed. If you lose your job, you may be able to collect Employment Insurance while you look for another job.There are rules and regulations that determine when you get EI, how much you get, and how long you can get it.Visit www.servicecanada.gc.ca/eng/sc/ei/index.shtml or DayPlanner web site – Link #175.
A business can be incorporated at the federal or provincial level in Canada and become a corporation.This means owners/investors have “limited liability” and can only lose what they have invested.There are small corporations, large corporations, and multinational corporations, which conduct business in more than one country.The Canadian Federation of Independent Business (CFIB) is an association that helps small businesses in Canada.You can get information on starting a business from the CFIB website at www.cfib.ca.
To be successful, a new business will have to respond to a real “opportunity,” that is, address a need, a want, or a problem.An entrepreneur will then set up a business to produce a product or service that responds to the need, want, or problem. If it is a real opportunity, enough people will buy the product or service to enable the business to make a profit. Be aware that many good “ideas” are not “opportunities.” Learn more
There are full-time and part-time jobs. Full-time jobs are usually 35 to 40 hours a week. Part-time jobs can vary from a few hours a week to a few days. Many people work at part-time jobs. Some hold a number of part-time jobs rather than one fulltime job. Full-time jobs often provide “benefits” to employees. Most part-time jobs do not.Ask your employer about “benefits” offered with your job..
Often the number of people working for a company is related to how well the company is doing in terms of selling the products and services it produces. If the company sells more, it will need to produce more.This will increase the company’s need for workers.Therefore, when looking for a job, it is good to look for companies that are doing well—selling lots of goods and services, earning profits, and likely to grow.
Usually more than one company produces a good or service. Businesses compete with one another to convince potential customers that their product or service is better than that of their competitors. Competition encourages businesses to try harder and try to improve their product or service by responding to what customers want. Caveat emptor means consumers should be aware of what they are buying and try to make good decisions.