What is Rowan Premium Bonus Scheme?
Purpose of Rowan Premium Bonus Scheme: 

Formula:
Proportion of time saved = Time taken/Time allowed x Time saved 
Illustration: Mr. A is being paid $9 per hour. The time allowed to complete a task is 12 hours. The actual time taken by Mr A to complete the task is only 8 hours Question: compute the gross pay of Mr A after completing the task. Solution: Mr A’s gross pay = ( 8 hours x $9) + ( Time taken/Time allowed x Time saved x Rate per hour) = (8 hours x $9) + ( 67% x 4 hours x $9) = $96.12 

Comments are closed now.