The following points highlight the ten main incentive plans introduced for remunerating workers. The incentive plans are: 1. Halsey Premium Plan 2. Rowan Premium Plan 3. Taylor's Differential Piece Rate System 4. Merrick's Differential Piece Rate System 5. Gantt's Premium Plan 6. Emerson's Efficiency Plan 7. Bedaux Plan 8. Profit Sharing Scheme 9. Co-Partnership Scheme 10. Collective Bonus Plan. 1. [...]
There are two basic methods of labour remuneration, i.e., time rate and piece rate system of wage payment. In modern days a number of incentive plans to induce workers to work hard so as to produce more and earn more are being used. Method # 1. Time Rate System: Under this system of wage payment, workers are paid according to [...]
The following points highlight the three main departments which deal with labour. The departments are: 1. Personnel Department 2. Time Recording Department 3. Payroll Department/Wages Department. 1. Personnel Department: Personnel department is concerned with recruitment, discharge and transfer, etc., of labour. On engaging a new worker, the personnel office will make out an employee's 'Record Card'. This card will show [...]