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Explain Methods of financial incentive system.
written 3.6 years ago by gravatar for prajapatijaimin prajapatijaimin • 3.3k •   modified 3.6 years ago
economics and management
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written 3.6 years ago by gravatar for prajapatijaimin prajapatijaimin • 3.3k

Solution:

Methods of financial incentive system:

(1) Piece rate system:

  • Under this system piece rate for completion of the job is fixed.

  • If a worker, completes the job earlier, he can save his time, he can make more jobs and whatever the extra money he gets for the extra work, …

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