This article throws light upon the six main types of incentive wage plans for workers. The types are: 1. Halsay's Plan 2. Rowan Plan 3. Taylor's Differential Piece Rate System 4. Gant’s Plan 5. Merrick’s Multiple Piece Rate System 6. Beadux Plan. Type # 1. Halsay's Plan: It was formulated in 1891 by Mr. F.A, Halsay of America. The plan [...]
In this essay we will discuss about the top three methods used for making wage payment to workers. The methods are: 1. Time Rate Wage System 2. Piece-Rate Wage System 3. Incentive Wage System. Essay # 1. Time Rate Wage System: Under the scheme, wages are determined according to the time which the worker spends on the job assigned to [...]
This article throws light upon the the three main types of allowances provided to workers. The types are: 1. Process Allowances 2. Personal and Rest Allowances 3. Special Allowances Type # 1. Process Allowances: They are meant to compensate workers for the enforced idleness due to the character or nature of a process or an operation. If the idleness would [...]