Labour cost is one of the important element of production. Wages and other incentives of employees remuneration constitute a very large component of operating costs.No organization can expect to attract and attain qualified and motivated employees unless it pays them fair remuneration. Employees remuneration, therefore influences vitally the growth and profitablity of the company.In order to attract and retain the employees various types of incentive schemes has been introduced, the incentive schemes is designed for Individual employees as well as the Group of employee to achieve the organizational goals.The scheme should be based on works study, and the work contents of various jobs should be stabilized.lt Recognizes the individual differences in ability and contributions. If in any company labour turnover is high it shows the instability of labour which may lead to inefficiency of work. There are various causes and different methods to measure the labour turnover. Rate of change in composition of labour force during a specific period is called as: a. Labour Rate b. Labour Output c. Labour Efficiency d. Labour Turnover Which one of the following bonus plan provides 75 percent of wages on time saved to employees? a. None of the options given b. Barth variable sharing plan c. Emersons efficiency sharing plan d. Accelerating premium bonus plan In which of the following bonus scheme,1 percent of bonus is added for every 1 percent increase in efficiency? a. Emersons efficiency sharing plan O b. Barth variable sharing plan O c. Bedaux point premium plan d. Accelerating premium bonus plan The following information relates to the Personnel department of a factory for the month of April 2020.The Number of workers on 1 April 2020 are 950; The Number of workers on 30 April, 2020 are 1,050; Number of workers who quit the factory in April 10, Number of workers discharged in April 30, Number of workers engaged in April (Including 120 on account of expansion scheme) is 140. What will be the labour turnover rate by Replacement Method? a. 4 Percent O b. 16 Percent O C. 14 Percent O d. 2 Percent The following information relates to the Personnel department of a factory for the month of April 2020.The Number of workers on 1 April 2020 are 950; The Number of workers on 30 April 2020 are 1,050; Number of workers who quit the factory in April 10, Number of workers discharged in April 30, Number of workers engaged in April (Including 120 on account of expansion scheme) is 140. What will be the labour turnover rate by Seperation Method? a. 4 Percent o b. 16 Percent O c. 2 Percent O d. 15 Percent
