Halsey or Weir Plan

• Halsey or Weir Plan is Individual incentive plan, earning are related directly to the performance of the individual worker.
• The plan was developed by F.A. Halsey. 
• Under this Plan, a standard time is fixed on the basis of past performance records. 
• A worker who completes his job within or more than the standard time is paid a guaranteed time wage. 
• A bonus (usually 50%) of the time saved is paid to a worker who completes his job in less than the standard time. The bonus is calculated on the basis of the Time Rate.

Merits 

• The plan is simple to understand.
• Beneficial for both employer and employee of time saved. 
• Sense of security for workers as they get guaranteed minimum wages.
• Encourage/motivate workers to be efficient, as a bonus is based on Time Saved.

Demerits

• Standards are based on Past Performance.
• Workers get only half of benefits ie. 50%.
• Quality of production may suffer, as workers focus on time-saving. 
• Wastage and Spoilage may increase.
• More Booking Keeping as records need to be maintained for time saved, bonus, etc.