Merits of Time Rate Wage System
What are the merits of Time Rate Wage System?
Expert
Following are the merits of Time Rate Wage System:
1 It is simple and understandable and easy for calculation of wages, since wages under this system is equal towage per hour* numbers of hours worked by an employee.
2 There is no time limit for completion of job, workman are not in hurry to finish it and this may mean that they may pay p enough attention to the quality of work, effective handling of machinery and utilization of resources in an optimum manner.
3 All workers are given same treatment in terms of equal wage payment, so grievances, ill will; jealousy can be avoided among them.
4 Time rate system provides regular and stable income to workers, so they can adjust and manage their budget accordingly.
5 It requires less administrative attention as this system provide good faith and mutual understanding and trust between employer and employee.
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Understanding of Human Resource Management according to wikstrom
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