Search results
Results From The WOW.Com Content Network
In calculating an appropriate piece work rate, employers must keep track of average productivity rates for specific activities and set a piece work rate that ensures that all workers are able to earn minimum wage. [12] If a worker earns less than the minimum wage, the employer has to pay the difference.
Differential time rate : According to this method, different hourly rates are fixed for different levels of efficiency. Payment on Result. Piece Work Straight piecework system : The wages of the worker depend upon his output and rate of each unit of output; it is in fact independent of the time taken by him.
The piece-rates are reckoned so that can be achieved. But in effect this was implicit everywhere as when the average wages in a particular mill were lower than elsewhere for reasons not connected with the quality of labour (e.g. because of antiquated machinery or the low quality of the cotton used), the men demanded "allowances" to raise their ...
The wage is the monetary measure corresponding to the standard units of working time (or to a standard amount of accomplished work, defined as a piece rate). The earliest such unit of time, still frequently used, is the day of work.
Method of payment (remuneration or compensation) – The work done could be paid "in cash" (a money-wage) or "in kind" (through receiving goods and/or services), or in the form of "piece rates" where the wage is directly dependent on how much the worker produces.
With a fixed-rate product, such as a personal loan or savings account, the interest rate you sign up for is the interest rate you’ll either pay or earn for the life of the product.
The piece-rate approach to wages had been introduced in the first Five-Year Plan in 1928 and had changed very little since then. In practice the piece-rate system led to many inefficiencies in Soviet industry. [8] One issue was the vast bureaucracy that was involved in administering wage payments.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!