Introduction to Priestman's production bonus plan
Within this plan the standard output is determined earlier that has to be achieved, say, in a week through the workers as a group in a factory. The standard productivity can be set in terms of units or points. The bonus is paid to them as per to the proportion of increase in output if the workers produce more than the standard output. This is accommodating production bonus plan because all the workers together make efforts to achieve the standards.
Bonus system for indirect workers
A number of progressive concerns have designed systems of rewarding even indirect workers through setting up norms for the results of their labours. They are based either on the own labours of the indirect workers or the production of allied group of direct workers. For instance, in the former case' a preservation foreman may be compensated for the timely finishing of the maintenance programme; a sweeper might be rewarded on the basis of the floor area cleaned from him etc. In the later case the indirect workers might also be granted a number of incentive bonuses if the workers of the departments for which they render service become labelled to bonus. This might be necessary on the ground that they have also helped the direct works in finishing or getting their aims. Though, the former method should be favoured to the latter since that links bonus with the own labours of the worker.
Individual and group bonus schemes
Incentive schemes to reward the workers for to motivate and their competence them to carry out above average level of activity, might be either on individual basis or group or gang basis. In those cases in which the work of individual workers can be calculated against the standards set, it would be surely better to pay incentives on the basis of comparative efficiency of each worker. This will be a huge moral boost to the worker because he knows that his reward has a direct link. However, with his own performance, the scheme should be well-defined and clearly understood by the worker. In those cases in which the output of individuals cannot be measured separately, group bonus schemes are employed. In case of such type of a scheme, the group like a whole acquires a reward for performance. The scheme has the following benefits:
Team spirit develops between the workers because each worker knows that his or her reward for performance of the group as a complete.
(ii) There is a healthy competition among dissimilar groups doing the same job. This results in more production but less costs.
(iii) The operators and supervisors also feel interested in the scheme because they will also be compensated for the performance of their group.
Group incentive schemes occasionally do not work effectively due to some workers being lazy and not efficient. Other workers also turn into lazy in due course since they resent sharing of fruits of their hard work through other inefficient workers. Furthermore, induction of new workers in the groups that are presents becomes hard on account of opposition through existing workers.
Latest technology based Cost Accounting Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Priestman Production Bonus Plan homework help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Priestman Production Bonus Plan, project ideas and tutorials. We provide email based Priestman Production Bonus Plan homework help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Priestman Production Bonus 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 Priestman Production Bonus 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.
theory and lecture notes of static characteristics i all along with the key concepts of ideal inverter, logic voltages, drive capability, noise immunity, switching speed and bipolar transistor switch. tutorsglobe offers homework help, assignment help and tutor’s assistance on static characteristics i.
Origin, Evolution and Structure of Stars tutorial all along with the key concepts of Dynamics of Stars, Hydrostatic Equilibrium, Virial theorem, Mean Temperature of a Star, Physical State of Stellar Material, Energy Generation in Stars, Equation of Energy Production
www.tutorsglobe.com offers formal method model homework help, assignment help, case study, writing homework help, online tutoring assistance by computer science tutors.
tutorsglobe.com economic importance of pteridophytes assignment help-homework help by online pteridophytes tutors
tutorsglobe.com equi-marginal utility assignment help-homework help by online significance of necessaries tutors
Optimal Costing System is dissimilar from entity to entity. It relies on an in-depth analysis of costs and advantages related with designing of an appropriate costing system.
Friction in Solids and Liquids tutorial all along with the key concepts of Concept of Friction, Merits and Demerits of Friction, Reasons for Reducing Friction, Types of Friction, Laws of Friction, Coefficient of friction and Concept of Viscosity
polymer synthesis tutorial all along with the key concepts of Addition Polymerization, Free Radical Polymerization, Combination, Disproportionation, Ionic Polymerization, Characteristics of Addition Polymerization
Vibrational Rotational Spectroscopy tutorial all along with the key concepts of Selection rules, Isotope effect, Vibrational and Rotational Transitions of Polyatomic Molecules, Wave Functions and Their Properties
tutorsglobe.com cell assignment help-homework help by online cell biology tutors
Motion in more than one Dimension tutorial all along with the key concepts of Displacement, Velocity and Acceleration, Uniform Circular motion, Relative motion, centripetal acceleration, scalar quantity
Theory and lecture notes of Quadratic Functions all along with the key concepts of quadratic functions, standard form, Extrema-Maximum and Minimums, Absolute Minimum, Absolute Maximum, Constant function and Quartic function. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Quadratic Functions.
Theory and lecture notes of Six Key Indicators of Macroeconomics all along with the key concepts of unemployment rate, Real Gross Domestic Product, inflation rate, exchange rate, interest rate. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Six Key Indicators of Macroeconomics.
Struggle with Dynamical System assignments? Top Dynamical System Assignment Help experts are here to fetch you A++ grades.
time division multiple access (tdma) is a channel access technique for shared medium networks.
1935713
Questions Asked
3689
Tutors
1491125
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!