Advantages of Piece Rate System
- It provides initiative and incentive to the workers to product more.
- The productivity increases and cost of production per unit goes down.
- As there is little wastage of time on the part of the workers, the fixed overheads and resources like plant, machinery and space are well utilized.
- Workers feel free to work, complete with fellow workers, exhibit their efficiency, and earn more of wages.
- Less supervision is required over the workers, and happy relations are maintained with them.
- It is easy to calculate the labor of products.
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