Posts: 615
Threads: 461
Joined: Oct 2010
Explain the Objectives of Wage Incentive Schemes
Posts: 3,285
Threads: 501
Joined: Sep 2010
Wage incentive schemes aim at the fulfillment of following objectives:
(i) To improve the profit of a firm through a reduction in the unit costs of labour and materials or both.
(B) TO avoid or minimise additional capital investment for the expansion of production capacity.
(iii) To increase a worker's earnings without dragging the firm into a higher wage rate structure regard less of productivity. *
(iv) To use wage incentives as a useful tool for securing a better utlisation of manpower. Better production scheduling and performance control and a more effective personnel policy.
