Which of the following is not a method of financial incentive payment?

This question was previously asked in
ISRO LPSC Technical Assistant Mechanical 4 March 2018 Official Paper
View all ISRO Technical Assistant Papers >
  1. Hasley premium plan
  2. Bedaux premium plan
  3. Rowan premium plan
  4. Jhonson’s premium plan

Answer (Detailed Solution Below)

Option 4 : Jhonson’s premium plan
Free
ISRO Technical Assistant Mechanical Full Mock Test
2.6 K Users
80 Questions 80 Marks 90 Mins

Detailed Solution

Download Solution PDF

Explanation:

The incentive is a reward, monetary or non-monetary which is given to a worker for his efficiency and hard work. Incentives may be classified into the following two groups: 

  • financial incentives 
  • non-financial incentive 

Financial incentives:

  • Financial incentives involve direct monetary payments or benefits to workers for better productivity and performance.
  • Besides incentives for the immediate work contribution, workers may receive additional financial benefits in the form of bonuses or profit-sharing in financial incentive plans.

Methods used for financial incentives are as follows:

  • Piece rate system 
  • bonus system 
  • Cent percent premium system 
  • Hasley system
  • Rowan system 
  • Bedaux or point system 
  • Barth system 
  • Emerson's efficiency 
  • Gantt task and bonus 
  • Taylor's differential piece 
  • Merrick's multiple pieces 
  • Weir premium plan 

Non-financial incentives:

  • Non-financial incentives include good working conditions, amenities, and social benefits in the organization.
  • Non-financial incentives play an important role in maintaining better production and efficiency in an organization.
  • With this type of incentive workers create interest for greater and better output and will also enjoy a richer and fuller life.

Some of the general Non-financial incentives are: 

  • Security of service
  • Opportunity for training
  • Chances of Quick Promotion
  • personal reward
  • welfare measure
Latest ISRO Technical Assistant Updates

Last updated on May 30, 2025

-> The ISRO Technical Assistant recruitment 2025 notification has been released at the official website. 

-> Candidates can apply for ISRO recruitment 2025 for Technical Assistant from June 4 to 18.

-> A total of 83 vacancies have been announced for the post of Technical Assistant.

-> The Selection process consists of a written test and a Skill test.

-> Candidates can also practice through ISRO Technical Assistant Electrical Test Series, ISRO Technical Assistant Electronics Test Series, and ISRO Technical Assistant Mechanical Test Series to improve their preparation and increase the chance of selection. 

Get Free Access Now
Hot Links: online teen patti teen patti master download teen patti master gold apk