Types of incentive schemes, HR Management

Assignment Help:

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. There are two incentive schemes under this category.


Related Discussions:- Types of incentive schemes

What activities would you tell mr. phillips, Ten years ago Albert Phillips ...

Ten years ago Albert Phillips opened his own retail store and sold unpainted furniture.  His store was located in Lakeside, a small city in the southeastern part of the United Stat

Explain tower plan, Q. Explain Tower plan? Tower plan: the objective of...

Q. Explain Tower plan? Tower plan: the objective of this plan is to encourage cost reduction by foreman and workers. However, bonus is paid from a reduction in labour cost alon

Explain the process of planning in oral presentation skills, Explain the Pr...

Explain the Process of Planning in Oral Presentation Skills?     (i) audience - size, composition, Reason for listening Important to know the audience or y

Provide leadership across the organisation, Write a report to your manager ...

Write a report to your manager outlining an organitional response to the incident in MacVille import/export company

Explain the techniques of data mining, Explain the techniques of Data minin...

Explain the techniques of Data mining Data mining techniques used have to be specific to the domain and also depend on the area of application. Important requirements are that

Explain man-power planning, Explain Man-Power Planning. Man-Power Plan...

Explain Man-Power Planning. Man-Power Planning: It is the planning done in relation to the man-power resources or the human assets of the enterprise. This might be defined as

HRM, “Effective Human Resources Management depends upon sound reward system...

“Effective Human Resources Management depends upon sound reward system” Comment.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd