COSTING & CONTROL OF LABOUR

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Presentation transcript:

COSTING & CONTROL OF LABOUR Objectives of Labour Cost Control To Motivate workers so that the output is enhanced To maintain a reasonable level of labour cost based on Industry standards To contribute to overall organizational profitability

LABOUR TURNOVER Rate of change in the Composition of Labour force during a particular period

CAUSES OF LABOUR TURNOVER AVOIDABLE Dissatisfaction with remuneration, hours of work, etc. Bad relationship with mgt., fellow employees, etc. Lack of training facilities, etc. UNAVOIDABLE Death,retirement,illness,accident,etc. Personal betterment Marriage(in case of woman)

MEAUREMENT OF LABOUR TURNOVER SEPERATION METHOD = No. of separations during a period X 100 Avg. No. of employees during the period. REPLACEMENT METHOD = No.of replacements made during period X 100

FLUX METHOD = No. of separation+ No. of replacement Avg. No. of employees

Wages and Incentives Taylor Differential Piece Rate System Merrick differential piece rate system Grant Turk and bonus system Emersion’s efficiency system

Taylor Differential Piece Rate System Percentage of Efficiency Less than 100% Equal to or more than 100% Piece Rate 83% of normal piece rate 125% of normal piece rate

Merrick differential piece rate system Percentage of Efficiency Up to 83% From 83% to 100% Above 100% Piece Rate Normal piece rate 110% of normal piece rate 120% of normal piece rate

Grant Turk and bonus system Percentage of Efficiency Output below standard Output at standard Output above standard Piece Rate Guaranteed time rate Time rate+ 20% bonus on time rate Piece rate including 20% bonus of time rate

Emersion’s efficiency system Percentage of Efficiency Less than 66.67% Above 66.67% and up to 110% Above 110% Piece Rate Guaranteed time rate Time rate + increasing bonus from 0.01% to 1 maximum of 20% 120% of time rate+ 1% increase for 1% increase in output

HALSEY PREMIUM PLAN Wage= (Time taken X time rate) + (50% of Time saved X time rate)

HALSEY-WEIR PREMIUM PLAN Earning= (Time taken X time rate) + (1/3 X Time saved X time rate)

(Actual time X time saved X time rate) ROWAN PLAN Earning= (hours worked X time rate) + (Actual time X time saved X time rate) Time allowed