Read this article in Hindi to learn about the top eleven incentive plans of wage payment. The plans are: 1. Halsey Premium Plan 2. Halsey-Weir Plan 3. Rowan Premium Plan 4. Emerson Efficiency Plan 5. Bedeaux or Point Scheme 6. Hayne’s Plan 7. Barth Variable Sharing Plan 8. Taylor Differentiated Piece Rate System 9. Gantt Task and Bonus Plan and [...]
After reading this article you will learn about:- 1. Introduction to Wage Incentive Plans 2. Requirements of Wage Incentive Plans 3. Objectives 4. Types 5. Drawbacks. Introduction to Wage Incentive Plans: Wage incentive plans reward an employee for his good job-performance. The various aspects of job-performance are: (i) Product Quantity; (ii) Product quality; (iii) Utilisation of materials, plant, tools and [...]
After reading this article you will learn about:- 1. Definition of Profit Sharing 2. Objectives of Profit Sharing 3. Methods 4. Advantages 5. Limitations. Definition of Profit Sharing: Profit sharing schemes may effectively supplement other incentive plans. Profit sharing is a scheme to augment the compensation of workers through the sharing of profits of the company. Profit sharing may be [...]