There are mainly two types of Employee Remuneration

There are mainly two types of Employee Remuneration - There...

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There are mainly two types of Employee Remuneration 1. Time Rate Method 2. Piece Rate Method These methods of employee remuneration are explained below in detail Methods of Employee Remuneration 1. Time Rate Method: Under time rate system, remuneration is directly linked with the time spent or devoted by an employee on the job. The employees are paid a fixed pre-decided amount hourly, daily, weekly or monthly irrespective of their output. It is a very simple method of remuneration. It leads to minimum wastage of resources and lesser chances of accidents. Time Rate method leads to quality output and this method is very beneficial to new employees as they can learn their work without any reduction in their salaries. This method encourages employees unity as employees of a particular group/cadre get equal salaries. There are some drawbacks of Time Rate Method, such as, it leads to tight supervision, indefinite employee cost, lesser efficiency of employees as there is no distinction made between efficient and inefficient employees, and lesser
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There are mainly two types of Employee Remuneration - There...

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