(a) A company is proposing to introduce an incentive scheme into its factory. Required: Three advantages and...
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(a) A company is proposing to introduce an incentive scheme into its factory.
Required:
Three advantages and three disadvantages of individual incentive schemes. 6 marks
(b) The company is undecided on what kind of scheme to introduce.
Required:
From the following information calculate for each employee his earnings, using:
(i) guaranteed hourly rates only (basic pay);
(ii) piecework, but with earnings guaranteed at 75% of basic pay where the employee fails to earn this amount;
(iii) premium bonus, in which the employee receives two-thirds of time saved in addition to hourly pay.Appendix
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