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Advantages of operating a piecework incentive scheme

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Reference no: EM131626479

Question: The management of Fessil Ltd is reviewing alternative methods of remunerating its factory workers. At present all such employees are paid on a time rate basis and one suggest ion being considered is the introduction of a piecework incentive scheme with a guaranteed weekly wage.

Required: (a) Describe TWO situations where piecework incentive schemes are unsuitable and the time rate method of remuneration more appropriate.

(b) Discuss the advantages and disadvantages to management of introducing and operating a piecework incentive scheme.

Reference no: EM131626479

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