Write a short note on the Halsey Plan of Incentive.
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 the standard. In case, the worker completes the works in less than the standard time, then he/she will be paid according to the actual time, i.e. time-rate plus the bonus calculated at a specified percentage of the saved time. Generally, the bonus percentage varies from 30-70 percent. The usual bonus share paid to the worker is 50% of the time savedmultiplied by the rate per hour (time-rate).
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 the standard. In case, the worker completes the works in less than the standard time, then he/she will be paid according to the actual time, i.e. time-rate plus the bonus calculated at a specified percentage of the saved time. Generally, the bonus percentage varies from 30-70 percent. The usual bonus share paid to the worker is 50% of the time savedmultiplied by the rate per hour (time-rate).
