An Analysis of the Vast Gap in Application Scope Between Piece Rate and Efficiency Wages in Recent years

Yang Zhang ()
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Yang Zhang: University of Nottingham Ningbo China, Faculty of Business

A chapter in Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022), 2023, pp 444-451 from Springer

Abstract: Abstract Piece Rate and Efficiency Wages, two categories of incentive systems, which are based on similar economic hypotheses and both win high recognition in their early stages, have had an enormous gap in the scope of application in recent years. This essay elaborates on the reasons from both internal and external perspectives. It finds that, although based on similar inherent defects, Efficiency Wages can win wider application scope because it better meets the intrinsic and extrinsic needs of employees, has fewer constraints on application, and is in line with the incentive needs of industries in the current era.

Keywords: Piece Rate; Efficiency Wages; intrinsic needs; extrinsic needs (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-054-1_48

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DOI: 10.2991/978-94-6463-054-1_48

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