In this article we will discuss about:- 1. Measurement of Labour Turnover 2. Causes of Labour Turnover 3. Effects 4. Cost 5. Control 6. Treatment of Cost. Contents: Measurement of Labour Turnover Causes of Labour Turnover Effects of Labour Turnover Cost of Labour Turnover Control of Labour Turnover Treatment of Cost of Labour Turnover 1. Measurement of Labour Turnover: Labour [...]
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 [...]