2. Incentive Systems
Piecework: Any type of employment in which a worker is
paid a fixed piece rate for each unit produced or action
performed, regardless of time.
Production Bonus: An extra payment made to workers for
being more productive or yielding more favourable results
than normal.
Commissions: An income payment based on a percentage of
a product or service sold.
Pay for knowledge: Focuses on employees' ability to
improve their education to increase their income.
3. Incentive Systems
Profit-sharing plan: A retirement plan that gives
employees a share in the profits of a company.
Co-partnership: The worker gets his usual wages, a share
in the profits of the company and a share in the management
of the company as well.
Fringe Benefits: An extra perquisite or facility provided by
the companies to their employees in addition to their
salaries/wages.
