one-hundred-percent premium plan
one-hundred-percent premium plan[′wən ‚hən·drəd pər¦sent ′prē·mē·əm ‚plan]
A wage incentive plan wherein each unit produced by an employee in excess of standard is compensated at the same rate paid for each unit of standard production. Also known as straight piecework system; straight proportional system.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.