Bedaux Plan

Definition: The Bedaux Plan is an incentive scheme in which the standard time for the completion of a job is fixed and the rate per hour is defined. Each minute of the standard time is called as point or B, such as in one hour there are 60 Bs. Under Bedaux plan, every job has…

Read more

Barth Variable Sharing Plan

Definition: Barth Variable Sharing Plan is yet another incentive scheme in which the time-rate is not guaranteed and the earnings of the worker are ascertained by taking the square root of the standard hour multiplied by the number of hours actually taken for the completion of the job and then multiplying it by the worker’s…

Read more

Rowan Plan

Definition: Under Rowan Plan, the standard time for the completion of a job and the rate per hour is fixed. If the time taken by the worker is more than the standard time, then he is paid according to the time rate, i.e. time taken multiplied by the rate per hour. In case, the worker…

Read more

Halsey Plan

Definition: Under Halsey Plan, the standard time for the completion of a job is fixed and the rate per hour is then determined. If the time taken by a worker is more than the standard time, then he shall be paid according to the time rate, i.e. time taken multiplied by the rate per hour.…

Read more

Standard Hour System

Definition: The Standard Hour System is an incentive scheme in which the standard time in terms of hours is set for the completion of a job. The rate per hour is then determined. The standard hour system is also called as 100 percent gains-sharing. Under this method, the worker is paid for a standard time…

Read more

Straight Piece-Work System

Definition: The Straight Piece-Work System is the simplest incentive method in which the rate per unit of output is fixed, and the earnings of the worker are computed by multiplying his total output by the rate per unit. In other words, a system in which the worker is paid according to the number of units…

Read more

Types of Incentive Schemes

Definition: The Incentive Schemes are the programs designed to encourage and motivate workmen for higher efficiency and greater output. The Incentives are the monetary rewards given to the workmen in recognition of their achievement of specific results during a specified time period. According to International Labor Organization (ILO), the incentives are “payment by results” but…

Read more

Empowerment

Definition: Empowerment refers to the delegation of some authority and responsibility to employees and involving them in the decision-making process, not in mere job activities, but rather at all the levels of management. In other words, empowerment implies freedom, power, authority, motivation and encouragement given to the employees to take decisions related to a specific…

Read more

Types of Employee Engagement

Definition: Employee Engagement refers to the emotional attachment an employee has with the organization. An employee is said to be highly engaged if he is fully absorbed or encouraged to perform his task beyond what typically is expected in his job role. An organization is the collection of a large number of individuals striving towards…

Read more

Employee Engagement

Definition: The Employee Engagement refers to the degree of relationship between the organization and its members. An employee is said to be highly engaged if he is willing to work and go beyond of what typically is expected in his role. In other words, the extra efforts an employee is willing to put forth determines…

Read more