The Premium Bonus System: A Scheme for Stimulating and Increasing the Productive Capacity of Industrial Resources (Classic Reprint) - Hardcover

W. Rowan Thomson

Hardcover

ISBN 10: 0332913791 ISBN 13: 9780332913797

Publisher: Forgotten Books, 2017

Synopsis

Boost productivity and cut costs with a practical guide to premium bonus systems for industrial work.

Discover how a time-based pay approach compares with payment by results and why a well-structured bonus plan can align the interests of employers and employees without sacrificing fairness or safety.

This book argues for the widespread use of premium bonus methods to raise output while controlling labor costs. It explains the problems with plain time work and outlines two major alternatives: straight piecework and premium bonus schemes. It also covers how to choose a system that fits a specific plant or product, the role of time allowances, and how bonuses can be calculated to reflect real savings in production time.

• Clear comparisons of piecework, Halsey, and Rowan premium bonus systems.
• Guidance on setting time allowances, calculating bonuses, and avoiding unfair price cuts.
• Practical considerations for selecting and implementing a system in engineering and shipyard contexts.
• Discussion of how bonuses impact both workers’ earnings and factory costs.

Ideal for managers, engineers, and shop floor personnel exploring payment by results and its potential impact on productivity and competitiveness.

Edition details

• Publisher: Forgotten Books
• Publication date: 2017
• Language: English
• ISBN 10: 0332913791
• ISBN 13: 9780332913797
• Binding: Hardcover
• Number of pages: 118