Piece Rate?


Piece rate pay in short is payment by results. One's pay is determined by each unit of production at a fixed rate. One is paid for only the work that he/she does. Piece-rate employment is when employees are paid a fixed rate per unit produced. (Piecework/performance-related pay).
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Ask.com Answer for: what is a piece rate
piece rate
compensation based on a worker's quantitative output or production, usually an agreed sum per article of work turned out.
Source: Dictionary.com
Piece rate is the monetary amount paid per unit of production in the reward scheme of piece work. It is payment for production based on the number of units produced, rather than the number of input hours. It is a system of direct performance payment, for instance, payment is made for each piece or quantity unit of work produced by an employee.
The piece rate is an amount of money paid per unit of production of piece work, and contrasts to hourly wage and salary.
A piece rate is a given amount of wage or salary that some one is paid for a piece of work or piecework. Wage determination system for the payment is by unit of production at a fixed rate. Another piece rate trick is by not letting your employees know their wage until the job is finished.
Q&A Related to "Piece Rate?"
1. Add up the total hours worked. Although piece work is not paid by the hour, a record of time worked must be kept to verify the worker is paid at least minimum wage. 2. Multiply
Piece-rate pay gives a payment for each item produced - it is therefore the easiest way for a business to ensure that employees are paid for the amount of work they do. Piece-rate
( ′pēs ′rāt ) (industrial engineering) Wages paid per unit of production.
Piece rate: noun: compensation based on a worker's quantitative output or production, usually an
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( ′məl·tə·pəl ′pēs ′rāt ′plan ) (industrial engineering) A wage incentive plan wherein increasingly ...
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Piecework is a type of employment for which an employee gets paid a fixed piece rate for each unit produced or action performed. Most people performing piece work ...
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