O'Reilly logo

Performance Management Systems and Strategies by Dipak Kumar Bhattacharyya

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

INCENTIVE SCHEMES

Incentives are paid to the workmen over and above the normal wages to reward their good performance. In places, where piece-rate system of wages exist, payment of incentives is relatively simple as for manufacturing additional units than the standard one, workers can be paid extra wages, which they are supposed to get for each additional unit. This incentive scheme is known as straight piece-rate scheme. In time-rate system, however, such incentives are computed following standard hour systems. To illustrate, let us assume a given volume of job is given to a worker for standard 8 hours work. If the worker is able to complete the job within 6 hours, then for the hours saved, i.e., 2 hours, he/she should be given the incentives ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required