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PREREQUISITES OF EFFECTIVE INCENTIVE SCHEME
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PREREQUISITES OF EFFECTIVE INCENTIVE SCHEME
It has been seen in many industries and large undertakings well designed system of payment by results shall yield advantages to all.
In this scheme implemantation of an incentive scheme is very essential.
contd
• Worker cooperation is necessary wherein –
• Method followed in measuring the results or output upon which payment is based.
• Method followed in setting wage rates for different classes of work.
• Appropriate safegaurds concerning earnings,job security,disputes.
contd
• The standards set must be realistic and must motivate workers to put in better performance.
• Workers must be provided with necessary tools and materials necessary.
contd
• Indirect workers shall also be covered under the incentive scheme like
• Supervisors• Foremen• Clerical staff• Store keepers• Crane operators• Helpers
• There should be management commitment to the cost and time necessary to administer incentive schemes properly.
• The scheme schould be planned carefully as there is a great nees for planning the scheme.