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Question
State any three advantages and any three disadvantages of the Piece rate system of wage payment.
Solution
There are various advantages of Piece rate system of wage payment:
- Reward efficient workers.
- Less Supervision required.
- It discriminates between efficient and inefficient workers.
There are also some disadvantages of Piece rate system of wage payment:
- Decline in quality
- Insecurity’
- Wastage of resources
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RELATED QUESTIONS
Answer briefly the following questions:
List any two conditions where time-rate system of wage payment is most suitable.
Answer the following question:
State two conditions where the piece-rate system is most suitable.
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Explain the time rate system of wage payment.
Differentiate between the wage incentive plans given by Halsey and Rowan.
Answer the following question:
State and explain any two advantages and two disadvantages of the time rate system of wage payment.
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State any three merits Piece Rate System.
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Assertion: Piece Rate system of wage payment is suitable when the work is repetitive in nature and the output can be measured.
Reason: Piece Rate system can cause insecurity among the workers as minimum wage is not guaranteed.
Distinguish between Piece rate system and Time rate system of remuneration on the following basis:
- Quality of work
- Wastage of resources
- Attitude of Trade Unions
- Weightage to efficiency
