measured day work (MDW)
Definition
Production standard or quota instituted as an alternative to incentive payment or pay-for-results schemes. Workers receive a regular, guaranteed rate of pay in return for quantity and quality, based on work measurement and capabilities of the equipment. Output falling below the required standards is paid pro rata, output exceeding the standards is rewarded with a bonus.
Popular 'Accounting & Auditing' Terms
measured day work (MDW) in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/measured-day-work-MDW.html
