spot contract

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An economic transaction consisting of a single, transient exchange of money for goods or wages for labour. The closest approximation to a spot contract within the sphere of HRM is the hire of casual workers by the day or hour. In this situation, there is no assumption of an ongoing social relationship between employer and worker and employment is stripped down to its bare economic essentials. [See contingent work and relational contract.]

Subjects: Human Resource Management.

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