Objectives of Wage Incentive Schemes

[rms]

Explain the Objectives of Wage Incentive Schemes

[nbm]

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.