Each and everything you need to know about Incentive Plan as studied in Cost Accounting and Human Resource Management. Learn about: Incentive Plan:Halsey (And Halsey-Weir) Premium Plan, Rowan Plan, The Hour-to-Hour or 100% Bonus Plan, Taylor's Differential Piece Rate, Merrick Multiple Piece Rate, Emerson's Efficiency Plan, Gantt Task and Bonus System, Bedeaux or Points Scheme, Hayne's Plan, Barth Scheme, Accelerating [...]
Everything you need to learn about the Type of Incentive Plans as studied in Human Resource Management! Types of Incentive Plans - Individual Incentive Plans and Group Incentive Plans Incentive wage payment systems provide for additional payment of the better performance of workers over and above the 'standard' performance. The standard may be set on the basis of earlier experience [...]
In this article we will discuss about the valuation of human resources with the help of three approaches namely:- 1. Historical Cost Approach 2. Replacement Cost Approach 3. Opportunity Cost Approach. 1. Historical Cost Approach: The actual cost incurred on recruiting, selecting, training and developing the human resources of the organisation are capitalized and written off over the expected useful [...]