After reading this article you will learn about:- 1. Meaning of Wage Incentive Plan 2. Requirements of Wage Incentive Plan 3. Characteristic 4. Chief Objects 5. Components. Contents: Meaning of Wage Incentive Plan Requirements of Wage Incentive Plan Characteristic of Wage Incentive Plan Chief Objects of Wage Incentive Plan Components of Wage Incentive Plan 1. Meaning of Wage Incentive Plan: [...]
This article throws light upon the top thirteen essentials of a sound wage plan for workers. Some of the essentials are: 1. Equitable to All 2. Fair and Adequate Compensation 3. Simplicity, Certainty and Flexibility 4. Incentive Wages 5. Merit Rating 6. Minimum Guaranteed Earnings Base Rate 7. Easy Collective Bargaining 8. Wage Control 9. Significance of Economic Reward 10. [...]
After reading this article you will learn about:- 1. Meaning of Piece Wage System 2. Features of Piece Wage System 3. Conditions Favouring 4. Advantages 5. Disadvantages. Contents: Meaning of Piece Wage System Features of Piece Wage System Conditions Favouring Piece Wage System Advantages of Piece Wage System Disadvantages of Piece Wage System 1. Meaning of Piece Wage System: It [...]