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What is another word for piece rate?

Pronunciation: [pˈiːs ɹˈe͡ɪt] (IPA)

Piece rate is a type of payment system that is usually utilized in factory production jobs. It is a system in which workers are paid according to the number of pieces or items they produce, rather than on an hourly basis. Employers often use piece rate to increase worker productivity while keeping labour costs low. Alternative phrases for piece rate include production pay, output pay, unit pay, performance-based pay, and individual task pay. These terms all describe payment systems based on an individual's capacity to produce or complete a specific task within a given time frame. Regardless of the term used, the piece rate system still carries the same premise that workers are incentivized to produce more to earn higher pay.
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What are the hypernyms for Piece rate?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.

  • Other hypernyms:

    payment method, compensation scheme, pay system, remuneration system.

What are the opposite words for piece rate?

The term 'piece rate' refers to the compensation system where an employee is paid based on the number of units produced or tasks completed. The opposite of piece-rate is time-rate or hourly-rate remuneration system where an employee is paid for time they spend working rather than the number of units or tasks completed. In this system, an employee would receive a fixed amount of payment irrespective of the amount of work completed. The other technical antonym of piece-rate could be salary or commission, depending on the structure of the payment system. Commission is based on a percentage of sales made, while a salary is a fixed amount of payment made on a scheduled basis to the employee.

What are the antonyms for Piece rate?

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