ADVANTAGES OF THE TIME RATE SYSTEM OF WAGE PAYMENT
Time rate system is a method of wage payment where workers are paid according to the time they have worked for example per hour, day and month. The following are advantages or Merits of time rate system Encourages hard work in terms of working overtime. This is because workers put in more effort to earn more wages leading to high output produced. Better quality output is produced due to constant supervision of the work and absence of hurrying. Proper records of time are kept for easy or correct payment. Therefore, it becomes easy to calculate the wages given to the workers for example multiplying the wage rate by duration of work. Workers are encouraged to report in time for work. This implies that workers are selfdriven. Workers are able to receive regular wage payments. Employees receive wages even during periods of temporary idleness. Less efficient / slower workers who take more time easily earn high wages as all workers are paid same wage. Minimizes conflicts between workers...