Tag Archives | Labour

Labour Cost Control

Labour cost refers to the amount of money paid to the people who are engaged in the production of goods. In manufacturing businesses, often management will break down labour cost into direct cost and indirect cost. The nature of labour whether it is direct or indirect depends upon the contribution of labour towards production. If they are directly engaged in [...]

By |2022-12-13T12:53:56+05:30January 13, 2021|Cost Accounting|Comments Off on Labour Cost Control

Causes of Labour Turnover

Everything you need to know about the causes for labour turnover. Labour turnover is a natural phenomenon occurring because of social and economic causes. However, while analysing these causes, it is necessary to distinguish between normal labour turnover and excessive labour turnover. The logic behind such a classification is the problem to be faced by the management due to excessive [...]

By |2019-08-24T09:45:36+05:30August 24, 2019|Human Resource Management|Comments Off on Causes of Labour Turnover

Top 8 Types of Incentive Wage System | Labour Economics

Incentive wage systems are the following types: 1. Halsey Premium Plan 2. Rowan Premium Plan 3. Taylor Differential Piece Rate System 4. Gantt Bonus Plan 5. Emerson Efficiency Plan 6. Bedaux Point Premium 7. Merric Differential Wage Multiple Piece Rate Plan 8. 100% Bonus Plan. Type # 1. Halsey Premium Plan: This plan known after F.A. Halsey is also called [...]

By |2017-11-09T17:38:53+05:30November 9, 2017|Wage System|Comments Off on Top 8 Types of Incentive Wage System | Labour Economics
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