Piece-Rate System

Halsey Premium Plan
An innovative wage incentive system created by Frederick A. Halsey, designed to enhance worker productivity and address the shortcomings of the piece-rate system.
Incentive Pay
Incentive pay is a wage system that rewards a worker for productivity above an established standard, typically in the form of a bonus. This system is a variation of the piece-rate system developed by Frederick W. Taylor.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.