Taylor piece rate system and Merrick piece rate system

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Hey friends, this video is about Taylor’s Differential Piece Rate Plan and Merrick Differential Piece Rate Plan. Here we discuss how total wages are calculated under these plans.
Taylor’s Differential Piece Rate Plan was given by F.W. Taylor. According to him if the workers actual output is equal to or more then standard output then they are given 120% of Normal wage rate per unit and if actual output is less the standard then workers are penalized by giving 80% of Normal wage rate per unit.
But Merrick Differential Piece Rate Plan is improvement over Taylor Plan as according to him workers are not penalized and if workers efficiency is less then 83.33% then they are given Normal wage rate per unit.
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Timestamps

0:00 Intro
0:20 Taylor Plan
2:17 efficiency calculation and example of Taylor plan
6:24 Merrick plan
8:12 example of Merrick plan
11:13 example of Taylor and Merrick Plan
19:15 Outro
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