Asked by Kevin Nguyen on Jul 08, 2024
Verified
What are the different types of piecework rates? Explain each of them.
Piecework Rates
A compensation system where employees are paid a fixed rate for each unit they produce or task they complete.
Types
Varieties or categories of a particular thing or person characterized by a specific set of traits or attributes.
- Comprehend the various kinds of incentive pay schemes and their goals.
Verified Answer
TA
Tarteel AlrayahnehJul 11, 2024
Final Answer :
The two types of piecework rates are the straight piecework plan and the differential piece rates plan. Straight piecework pay is an incentive pay in which the employer pays the same rate per piece, no matter how much the worker produces. Differential piece rates (also called rising and falling differentials) refers to the incentive pay in which the piece rate is higher when a greater amount is produced.
Learning Objectives
- Comprehend the various kinds of incentive pay schemes and their goals.
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