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q explain accelerating premium systemaccelerating premium system there are the systems which provide for a guaranteed minimum wage for output below
q describe emersons plana standard time is set for the each job and the efficiency of each worker is determined by dividing the time taken by
q merits and demerits of the gantt task systemmerits of the gantt task system 1it is simple and easy understood2it guarantees day wages and also
q explain gantt task and bonus plangantt task and bonus plan this plan has been devised by the hl gantt and is the only one that pays a bonus
merricks multiple piece rate system it is an improvement over taylors differential plan according to this plan three piece rates for a job are fixed
q taylors differential piece rate systemtaylors differential piece rate system developed by the f w taylor in the 1880 there is a low rate or for the
q earnings differing at different levels of the outputearnings differing at different levels of the output this group includes several schemes these
q explain standard hour systemunder the former the earning of the worker are in proportion to his or her output as in the straight piece work but the
q what do you mean by beaux systembeaux system the standard time for a job is determined each minute of the allowed time is called a point or b thus
q explain barth variable sharing systembarth variable sharing system it does not guarantee the time rate the workers pay is ascertained by
rowan premium plan it is widely used in the england it was introduced by james roman of david rowan and sons glass raw in 1901 it is modification in
q merits and demerits of halsey systemmerits of halsey system1slow workers are guaranteed a fixed time wage2efficient workers get extra wages3it is
q what do you mean by halsey systemhalsey system under the halsey system standard time is fixed for the completion of a job and the rate per hour is
types of incentive schemes incentive schemes are many and varied the international labour organization ilo classifies all the schemes of payment by
q explain straight piece work method straight piece work method is the simplest oldest and the most commonly used method here the rate unit of the
classification or types of rewards rewards or incentives can be classified into1direct compensation and2indirect compensationdirect compensation
disadvantages of the incentive payments 1there is a tendency for the quality of products to deteriorate unless steps are taken to ensure such
an incentive plan has the following important features1an incentive plan may consist of both monetary and non monetary elements mixed elements can
q show rewards and incentiverewards and incentive an incentive or rewards can be anything that attracts a workers attention and stimulates hi to work
comparison bw time rate system and piece rate system 1in time wages time is the basis of payment whereas in the piece wage quantity of the work is
disadvantages of the piece wage system 1payment under this system is irregular and uncertain for the workers point of view and thus creates
advantages of piece wage system 1it pays the work man according to his efficiency as reflected in the amount of worth turned out by him it satisfies
q what do you mean by piece wage system piece wage system under this system workers are paid according to the amount of work done or the number of
q show suitability of time wage systemsuitability of time wage system1 where supervision is close as in small concerns2 where quality is more