By Arthur E Thiessen
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Extra resources for A history of the General Radio Company
Most of the production operations, including assembly, are paid for on an incentive basis. There is a guaranteed hourly base rate consistent with the performance of the average worker. Piece rates are set so that each worker will earn a premium proportional to his performance above average. Historically, incentive earnings have averaged 20-30 percent above the hourly base rates. In addition to the production operations, incentive pay plans, which have always been a basic policy of the Company, have been extended to many other, sometimes improbable, areas.
24. 5, the surplus is carried forward to the following month). 6. The plan was immediately accepted by all concerned as a fair solution to a critical problem, and it has been used, with modification only in detail, ever since. RECOVERY As has been mentioned, billings were at a low of $520,000 for 1932, but new orders received were much worse at $381,000. They were a little better for 1933, but by 1934 conditions were beginning to brighten. In that year new orders totaled $744,000, and shipments about $700,000, and net worth had climbed from $786,000 back to $804,000.
He worked with many of M. I. 's officers and faculty on wide-ranging problems and was a member of the Visiting Committee from 1936 to 1939. He was active in many other ways to promote technical education. For instance, he, with Richmond, started a co-operative study program with Northeastern University and later M. I. T. Under these programs, selected undergraduates, candidates for engineering degrees, go to college for a period of a few months and work at GR alternate periods. As the student advances in knowledge, the level of his work at the Company rises correspondingly.