Archive | Labour

Top 3 Methods of Wage Payment | Cost Accountancy

The following points highlight the top three methods of wage payment. The methods are: 1. Time Rate Plan 2. Piece Rate 3. Incentive Wage Plans. Wage Payment: Method # 1. Time Rate Plan: The method which is related to the hours of work is known as Time Rate Plan. Under this method the worker is […]

Time-Booking: Definition, Objectives and Methods

In this article we will discuss about:- 1. Definition of Time-booking 2. Objectives of Time-booking 3. Methods of Time-booking. Definition of Time-Booking: Time booking signifies the time spent by a worker on each job, process or operation. It is more important in case of direct workers as compared to indirect workers. Objectives of Time-Booking: The […]

Time and Motion Study: Meaning, Objectives and Treatment

In this article we will discuss about the Time and Motion Study:- 1. Meaning of Time and Motion Study 2. Objectives of Time and Motion Study 3. Benefits 4. Treatment of Some Items. Meaning of Time and Motion Study: Time study is defined as a work measurement technique for recording the times and rates of […]

Job Evaluation: Definition, Objectives and Steps

In this article we will discuss about Job Evaluation:- 1. Definition of Job Evaluation 2. Objectives of Job Evaluation 3. Steps for Job Evaluation 4. Advantages of Job Evaluation. Definition of Job Evaluation: Job evaluation is the technique of analysis and assessment of jobs to determine their relative value within the firm so that a […]

Labour Turnover: Definition, Causes and Effects

In this article we will discuss about:- 1. Definition of Labour Turnover 2 . Causes of labour Turnover 3. Effects of Labour Turnover 4. Measurement of Labour Turnover 5. Labour Turnover Report. Contents: Definition of Labour Turnover Causes of labour Turnover Effects of Labour Turnover Measurement of Labour Turnover Labour Turnover Report 1. Definition of […]

Time Wage System: Advantages and Disadvantages

In this article we will discuss about the Time Wage System:- 1. Advantages of Time Wage System 2. Disadvantages of Time Wage System. Advantages of Time Wage System: Time-wage system offers the following advantages: (i) Stable wages and security: It provides the worker with job security and stability of wages. The inefficient workers are assured […]

Top 4 Incentive Schemes for Efficient Workers

The following points highlight the top four incentive schemes for efficient workers. The schemes are: 1. Differential Piece Rate 2. Premium Bonus Scheme 3. Group Incentive Plans 4. Bonus Schemes for Indirect Workers. Incentive Schemes for Efficient Workers: Differential Piece Rate Premium Bonus Scheme Group Incentive Plans Bonus Schemes for Indirect Workers Incentive Scheme # […]

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