Halsey-Weir Premium Plan

Introduction to Halsey (and Halsey-Weir) Premium Plan

It is an easy combination of time-speed basic of payment. The characteristics of the plans are:

(a) In the Halsey (and Halsey-Weir) premium plan Worker is paid at an hourly rate for the time for which he has worked.

(b) A standard time is decided and if a worker completes a job before the time fixed, he is paid a bonus for the time saved, as well the wages for the actual time spent via him on the job.

(c) The amount of bonus is 50% of the time saved in case of Halsey Plan and 30% in case of Halsey-Weir Plan and is permitted at similar hourly rate at which he is paid for actual time worked.

So, his total emoluments are the aggregate of certain hourly wages for actual time worked in addition the amount of bonus. It can be expressed through way of a formula:

Total Earnings = T × R + (S - T) × R × 50% (or 30%)


T means Time Taken

R means Hourly Rate

S means standard Time

So, total earnings are = Time taken × Hourly rate plus Time saved × Rate × 50% (or 30%)


1. The system is simple to operate. Calculations included are not very complexed.

2. The employees as well as employer are benefited through this plan like the profit of time saved is divided among both of them.


1. It is a hard task to determine a standard time. The standard time's fixation on the basis of presentation of the most proficient worker shall be of no use because all the workers shall complete the work further than the standard time. Appropriate time and motion studies should be performed and there should be scientific determination of standard time. Past presentations of the workers should direct the management in the task of setting up of standards.

2. Workers may carry out specific jobs with a high speed to earn bonus and might soldier on her jobs to take rest, for they are definite wages for the actual time taken. So, the management is at the compassion of labour regarding the speed of production work.

Latest technology based Cost Accounting Online Tutoring Assistance

Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Halsey-Weir Premium Plan homework help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Halsey-Weir Premium Plan, project ideas and tutorials. We provide email based Halsey-Weir Premium Plan homework help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Halsey-Weir Premium Plan. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Cost Accounting homework help and assignment help services. They use their experience, as they have solved thousands of the cost accounting assignments, which may help you to solve your complex issues of Halsey-Weir Premium Plan. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.

©TutorsGlobe All rights reserved 2022-2023.