Personnel Time Management (PT)

Type of incentive wages, in which the amount of remuneration depends only upon the work performed (labor utility rate) by the employee.

The most widely used form of piecework wages is time-based piecework. In this case, the remuneration for performance is proportional to the quantity produced, however, the quantity is not used directly to calculate wages. Instead, remuneration is based on the fixed standard time rather than on the time actually required to produce the quantity.