ALPHABET "L"
Labour Market - A geographical or occupational area in which factors of supply and demand interact.
Labour force mobility - The willingness of potential employees to travel or move to where work is offered.
Labour force participation - A rate at which the number of people in the labour force is divided by the number of people of working age x 100.
Leadership - The process, by which an individual determines direction, influences a group and directs them toward a specific goal or organizational mission.
Leadership Development - Formal and informal training and professional development programmes designed for all management and executive level employees to assist them in developing the leadership skills and styles required to deal with a variety of situations.
Legislation - Law emanating from Parliament in the form of Acts.
LIFO - In the event of a redundancy situation occurring, the system of ‘last in first out’ is regarded as the most equitable method of choosing those who should be made redundant.
Lump sum payment - A fixed negotiated payment which is not typically included in an employee’s annual salary. Often times given in lieu of pay increases.
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