Question 26 of 81
Q.Explain Halsey premium plan.
ChseodishaCHSE Odisha Plus Two (Class 12) Commerce Board 2019Subjective· 3mImportance★★★★★est
32% · 26/81 Questions
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Start your 14-day free trial to unlock the full solution →Halsey plan: time wage + 50% bonus on time saved, sharing the saving between worker and employer.
The Halsey premium plan is an incentive plan that combines a guaranteed time wage with a bonus for efficiency:
- A standard (allowed) time is fixed for the job.
- The worker is paid the time wage for the actual time taken, so a minimum wage is guaranteed even if no time is saved.
- If the job is finished in less than the allowed time, the worker gets a bonus of 50% of the wages for the time saved (the usual Halsey percentage).
Formula: Total earnings = (T × R) + 50% × (S − T) × R, where S = time allowed, T = time taken, R = rate per hour.
Example: S = 10 h, T = 8 h, R = Rs. 10 → basic 8 × 10 = Rs. 80; bonus 50% × (2 × 10) = Rs. 10; total = Rs. 90.
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