what are the advantages and disadvantages of a time rate system
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ADAVANTAGES
Time rate is easy to understand and simple to follow and calculate.Wage calculations are also easy and quick.Each worker knows how much wage payment is he is entilted to at the end of the month.This gives convienence to employer and employees.
DISADVANTAGES....
Tge effecient worker are economically penalizedolfor their effeciency since they are not paid for it.In course of time they lose initiative and become inefficient.Witth the decrease of productivitylabour cost increases resulting in reduction in profit.
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