HR

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 rate per hour. In other words, an incentive plan … [Read more...] about Barth Variable Sharing 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 completes the work in less than the standard time; then he is entitled to a bonus along with … [Read more...] about Rowan 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. In Halsey plan, the time wages are guaranteed even if the output of a worker is below … [Read more...] about Halsey Plan

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 irrespective of whether the job is completed in the standard time or … [Read more...] about Standard Hour 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 produced at a fixed rate per unit during a defined period of time is … [Read more...] about Straight Piece-Work System

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” … [Read more...] about Types of Incentive Schemes

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...] about Empowerment

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 the accomplishment of a common … [Read more...] about Types of 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 his degree of emotional attachment to the organization. … [Read more...] about Employee Engagement

Definition: The Industrial Relations or IR shows the relationship between the management and the workmen within the industry and the role of a regulatory body to resolve the industrial disputes. IR is perceived differently by a different group of behavioral practitioners and theorists. Some believed that IR is related to the Class Conflict while some perceived it in terms of … [Read more...] about Approaches to Industrial Relations