Tag Archives | Wage Payment

Wage Incentive Plans: Requirements, Objectives and Types

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 [...]

By |2017-02-06T21:13:25+05:30February 6, 2017|Wage Plan|Comments Off on Wage Incentive Plans: Requirements, Objectives and Types
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Top 5 Methods of Wage Payment to Employees

This article throws light upon the top five methods of wage payment to employees. The methods are: 1. Time Rate System (Fixed Salary Method) 2. Piece Rate System 3. Salary plus Commission on Sales 4. Profit Sharing System 5. Non-Financial System. Method # 1. Time Rate System: It is a system where wages are paid on the basis of time [...]

By |2016-08-09T07:55:51+05:30August 9, 2016|Employees|Comments Off on Top 5 Methods of Wage Payment to Employees
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