human resource and management

1. INCENTIVE PLANS
MEANING OF INCENTIVE PLANS
Incentives are monetary benefits paid to
workers for their outstanding
performance.

2. TYPES OF INCENTIVES
INCENTIVE WAGE SYSTEM is divided into
2 types they are
1) INDIVIDUAL INCENTIVE SYSTEM
2) GROUP INCENTIVE SYSTEM

3. 1) INDIVIDUAL INCENTIVE SYSTEM :
In this payments are made on the basis of time taken
and percentage of time saved.
2) GROUP INCENTIVE SYSTEM:
In this all the members of the group are given
incentives for increasing their collecting
performance.

4. INCENTIVE WAGE SYSTEM
INDIVIDUAL INCENTIVE SYSTEM GROUP INCENTIVE SYSTEM
EMERSON
PLAN
HALSEYS
PLAN
ROWANS
PLAN
TAYLORS
PLAN
BEDEUX
PLAN
PRIEST MANS
PLAN
SCALON
PLAN
CO-PARTNERSHIP
PLAN
PROFIT SHARING
PLAN

5. GROUP INCENTIVE SYSTEM
1) PRIESTMAN”S PLAN:
In this plan a standard production is fixed for the
whole factory.
Incase production does not reach the standard, then
the workers might get minimum wages.
STANDARD PRODUCTION=1,00,000units/year
ACTUAL PRODUCTION = 1,20,000units/year

6. GROUP INCENTIVE SYSTEM
2)SCALON PLAN:
In this plan bonus is available to all employees
except top management and the entire amount is not
paid every month it is paid during the last month of
every year.

7. GROUP INCENTIVE SYSTEM
3) CO-PARTNERSHIP PLAN:
In this plan payments are also collected in
installments and makes the workers feel as a part of
the organisation.
4) PROFIT SHARING PLAN:
In this plan profits are paid to workers in addition to
their normal wages and to maintain a cordial
relationship between employees and employers.

8. INDIVIDUAL INCENTIVE SYSTEM
1)EMERSON PLAN:
This plan comprising time wages to 66% of
standard performance.
ADVANTAGES OF EMERSON PLAN
Guarantees minimum wages for the workers
Efficient worker is rewarded every year.

9. INDIVIDUAL INCENTIVE SYSTEM
2)HALSEYS PLAN:
In this plan incentive is given to a worker, who is
fast and completes his work before the standard
time to complete his work.
3)ROWANS PLAN:
This plan is similar to halsey plan. This plan Checks
over-speeding and overstrain of a worker.

10. INDIVIDUAL INCENTIVE SYSTEM
4)BEDEUX PLAN:
In this plan minimum wage is guaranteed. This
plan may be added up for a worker even his job
requires different assignments in a day.
5)TAYLORS PLAN:
In this plan the conditions should be possible for
the average worker to attain the performance
target. It does not guarantee a day rate.

11. THANK YOU