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q show merits of the group incentive schemesmerits of the group incentive schemes1it creates a collective interest in the work2high output and
q describe priest man bonus planpriest man bonus plan under this system productivity of all the workers is taken into account in case during a year
q explain tower plantower plan the objective of this plan is to encourage cost reduction by foreman and workers however bonus is paid from a
q what is scanlon plan scanlon plan under this plan a constant production ratio of wages to the sales value of the added value of output is paid to
q show group incentivethese are the incentive wage plans which motivate the group to produce more under individual incentives plans bonus is paid to
show limitations of the individual incentivesathe employees inclination is more on quantity as compared to qualitybworkers incentive of the cost of
advantages of the individual incentives1administration of individual incentives is simple because individual incentives can be given after assessment
q what do you mean by individual and group incentivesaccording to the lg magginson individual incentives are the extra compensation paid to an
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