Permanent Employment
Encyclopedia
Permanent employees or regular employees work for a single employer
and are paid directly by that employer. In addition to their wages, they often receive benefits like subsidized health care, paid vacations, holidays, sick time, or contributions to a retirement plan. Permanent employees are often eligible to switch job positions within their companies. Even when employment is "at will", permanent employees of large companies are generally protected from abrupt job termination by severance policies, like advance notice in case of layoffs, or formal discipline procedures. They may be eligible to join a union, and may enjoy both social and financial benefits of their employment.
Rarely permanent employment means employment of an individual that is guaranteed throughout the employee's working life. In the private sector
, such jobs are rare; permanent employment is far more common in the public sector
, where profit and loss
is not as important.
Employment
Employment is a contract between two parties, one being the employer and the other being the employee. An employee may be defined as:- Employee :...
and are paid directly by that employer. In addition to their wages, they often receive benefits like subsidized health care, paid vacations, holidays, sick time, or contributions to a retirement plan. Permanent employees are often eligible to switch job positions within their companies. Even when employment is "at will", permanent employees of large companies are generally protected from abrupt job termination by severance policies, like advance notice in case of layoffs, or formal discipline procedures. They may be eligible to join a union, and may enjoy both social and financial benefits of their employment.
Rarely permanent employment means employment of an individual that is guaranteed throughout the employee's working life. In the private sector
Private sector
In economics, the private sector is that part of the economy, sometimes referred to as the citizen sector, which is run by private individuals or groups, usually as a means of enterprise for profit, and is not controlled by the state...
, such jobs are rare; permanent employment is far more common in the public sector
Public sector
The public sector, sometimes referred to as the state sector, is a part of the state that deals with either the production, delivery and allocation of goods and services by and for the government or its citizens, whether national, regional or local/municipal.Examples of public sector activity range...
, where profit and loss
Profit and Loss
Profit and Loss may refer to:* Profit & Loss, monthly business magazine founded in July 1999 especializing in Foreign exchange market and derivative markets...
is not as important.