Discuss the plans that provide for variable incentives linked to a standard expressed as a time period per unit of production.
What will be an ideal response?
In the Halsey 50-50 plan, an allowed time for a task is determined via time study. The savings from completion of a task in less than the standard time are allocated 50-50 (most frequent division) between the worker and the company.
The Rowan plan is similar to the Halsey plan in that an employer and employee both share in savings resulting from work completed in less than standard time. The major distinction in this plan, however, is that a worker's bonus increases as the time required to complete the task decreases.
The Gantt plan differs from both the Halsey and the Rowan plans in that the standard time for a task is purposely set at a level requiring high effort to complete. Any worker who fails to complete the task in the standard time is guaranteed a preestablished wage.
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