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fringe benefits in the indian industries the national association of manufactures has indicated the following which are essential in motivating the
q show coverage benefits of fringecoverage of benefits it has been recognized that certain benefits must be supplied by the organization for its
need of the fringe benefits 1employers preference for the fringe benefits than the hike employers also prefer fringe benefits to play hike as the
objective of the fringe benefits the important objectives of the fringe benefits are1to create and improve sound industrial relations2to boost up
q show fringe benefitsmeaning amp definition fringe benefits refer to various extra benefits provided to employees in addition to a compensation paid
q explain role of non monetary incentivesrole of non monetary incentives rewards the various roles of non monetary incentives in motivating the work
role of money in motivation money plays an important role in motivation managements generally make use of financial incentives like wages and
q non financial incentivesthe financial or pecuniary incentives are monetary in the nature as they involve flow of money from the organization to its
q what do you mean by monetary and non monetary rewardsmonetary and non monetary rewards - incentives the term incentive means an inducement which
suitability of the group incentive schemes1where it is not possible to measure the performance of each individual worker2where the number of workers
demerits of the group incentive schemes1an individual worker may not put his maximum effort in view of equal sharing of bonus by ineffective
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