piece rate

piece rate
A payment scheme in which an employee is paid a specific price for each unit made. The rate is therefore directly related to output and not to time (compare time rate). This method is often combined with a basic salary and takes the form of a productivity bonus, in which individual effort is rewarded. In modern factories, many tasks have been mechanized, making this method of payment less common, although it is simple to operate and popular with employees. Piece rate, to be attractive to workers, depends on speed of production, therefore the standard of quality and safety may suffer if adequate precautions are not taken. See also payment by results; premium bonus

Big dictionary of business and management. 2014.

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  • piece rate — ➔ rate1 * * * piece rate UK US noun [C] HR ► a way of paying for work that is based on a fixed rate for a particular amount done rather than the time it takes to do the job: »They employed workers in developing countries and paid them on a piece… …   Financial and business terms

  • piece-rate — UK US noun [C] HR ► a way of paying for work that is based on a fixed rate for a particular amount done rather than the time it takes to do the job: »They employed workers in developing countries and paid them on a piece rate. piece rate… …   Financial and business terms

  • piece rate — piece ,rate noun count or uncount a rate of pay by which you get a particular amount of money for each piece of work you complete rather than for the amount of time taken to do it …   Usage of the words and phrases in modern English

  • piece rate — In bulk mail, the postage charged for each mailpiece in addition to the pound rate charge, if applicable, for the entire mailing …   Glossary of postal terms

  • piece rate — noun : the price per unit of production paid to a pieceworker * * * compensation based on a worker s quantitative output or production, usually an agreed sum per article of work turned out. [1890 95] * * * piece rate noun A fixed rate paid… …   Useful english dictionary

  • piece rate — UK / US noun [countable/uncountable] Word forms piece rate : singular piece rate plural piece rates a rate of pay by which you get a particular amount of money for each piece of work that you complete rather than for the amount of time it takes… …   English dictionary

  • piece rate — noun (C) an amount of money that is paid for each thing a worker produces: The piece rate was $2.00 per skirt …   Longman dictionary of contemporary English

  • piece rate — / pi:s reɪt/ noun a rate of pay calculated as an amount for each product produced or for each piece of work done and not as an amount for each hour worked ● to earn piece rates …   Dictionary of banking and finance

  • piece rate — noun The monetary amount payed per unit of production in the reward scheme of piece work, contrasting to hourly wage and to salary …   Wiktionary

  • piece rate — /ˈpis reɪt/ (say pees rayt) noun payment based on output or production, usually a fixed sum per piece of work turned out …  

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