Types of incentive schemes, HR Management

Types of incentive schemes: incentive schemes are many and varied. The international labour organization (ILO) classifies all the schemes of payment by the result into four categories. They are:

1. Schemes where the workers earnings very in the same proportion as output.

2. Schemes where earning very less than output.

3. Schemes where earning very more than output.

4. Schemes where earnings differ at different levels at output.

Incomes varying in proportion to output: the chief characteristics of the Schemes where the Incomes varying in proportion to output is that any gains or losses resulting directly from a worker's output accrue to him / her (leaving to the employer any gains or losses in overhead costs per unit of output). In contract, when the worker is paid by the hour, day or month, all gains or losses resulting from changes in his / her output accrue to the employer.

Posted Date: 6/21/2013 6:25:21 AM | Location : United States







Related Discussions:- Types of incentive schemes, Assignment Help, Ask Question on Types of incentive schemes, Get Answer, Expert's Help, Types of incentive schemes Discussions

Write discussion on Types of incentive schemes
Your posts are moderated
Related Questions
Q. What do you mean by core interview? Core interview: it is normally the interaction between the candidate and the line executive or experts on various areas of job knowledge,

Explain the meaning of Encode the message in communication process ? 1. This stage involves putting the information which is appropriate to the sender, receiver and pur

Reflect and share what you have learned .  Mentally apply new concepts to your work situation, actively seeking specific, real-life situations that could benefit from your new know

Purpose of compensation management: Attracting and retaining personnel: from organizational point of view, the compensation management aims at attracting and retaining right pe

You work for a consulting firm and have been contracted by the Human Resource Manager of the MAC Corporation to create two plans.  The first (Part A) is an action plan to address t

“Borderless world, Diversity Management, and Knowledge power, are some of the overarching factors being encountered by the Human Resource Mangers of 21st century business world”.

Presentation of Results Presentation of results of an experiment is an essential feature both for analysis and any conclusions drawn from that experiment. Results are mostly re

Drawadiagramshowingthefivestepsintheselectionprocesss

A small organisation has decided to implement a performance management system. However, the organisation does not have a formal vision and mission statement and business objectives

.Should benching be a matter of concern at delta?