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Sliding Scale Plan of incentive methods of wage payment

Under this system, bonus fluctuates in commodity prices but the workers are guaranteed minimum wage on time basis.

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Bedeaux Point Premium Plan of incentive methods of wage payment

The chief novelty of this system is that value of time saved is shared to worker and to supervisor.

Click to read - Bedeaux Point Premium Plan of incentive methods of wage payment

Marrick Multiple Piece Plan of incentive methods of wage payment

It is modified form of Taylor's differential plan. Under this system, three rated instead of two in taylor's plan are prescribed.

Click to read - Marrick Multiple Piece Plan of incentive methods of wage payment

Emerson's Efficient Plan of incentive methods of wage payment

Under this system, a minimum wage is guaranteed. The workers who are efficient are paid bonus on the basis of their efficiency.

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Grantt Bonus Plan of incentive methods of wage payment

In order to moderate the Taylor's plan, Mr. H.L. Grantt evolved new system of wage payment. Under this system wages on time basis are guaranteed.

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Taylor's Differential Piece Rate System of incentive methods of wage payment

F.W. Tavlor, founder of the scientific management evolved this system of wag payment. Under this system, there is no guarantee of minimum wages. Standard time and standard work is determined on the basis of time study.

Click to read - Taylor's Differential Piece Rate System of incentive methods of wage payment

Roman System of incentive methods of wage payment

The system is just like the Halsey Plan. The only difference between the two systems is in calculating the premium.

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Halsey Premium Plan of incentive methods of wage payment

Under this system, a time wage is guaranteed. The standard time required in completing the standard job is determined before-hand on the basis of time and motion studies and or prepast record.

Click to read - Halsey Premium Plan of incentive methods of wage payment

Some of plans of incentive methods of wage payment

These are called, technically the incentive plans. Some of these plans or systems are as under

Click to read - Some of plans of incentive methods of wage payment

Incentive methods of wage payment

We have discussed the advantages and disadvantages of the two basic systems of wage payment i.e. time and piece rate of wage systems.

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Suitability of piece wage system

This system is suitable in the following cases

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Disadvantages of Piece Wage System

This system claims the following disadvantages

Click to read - Disadvantages of Piece Wage System

Advantages of Pieces Wage System

This system is commended on the following advantages

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Piece Wage System

This is the second oldest method of the payment of wages. Under this method quantum of work is the basis for paying the wages and not the time spent on work.

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Suitability of Time-wage Method

From the above discussion of advantages of the system, it may be concluced that the system is suitable in the circumstances where

Click to read - Suitability of Time-wage Method

Disadvantages of Time-wage Method

The time wage system is found lacking in following respects

Click to read - Disadvantages of Time-wage Method

Advantages of Time Wage Method

Time wage system offers the following advantages-

Click to read - Advantages of Time Wage Method

Time Wage System

This is the oldest system of remunerating labour. Under this method employee is paid on the basis of time worked i.e. at hourly, weekly or monthly rate, irrespective of the quantity of work done.

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Methods of wage payments

Basically there are two main systems of wage payments-(i) Time based wage system, and (ii) Piece rate system.

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Wage and Salary Policy

A sound wage policy is an essential ingredient of wage and salary administration in an organisation.

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