one-hundred-percent premium plan

one-hundred-percent premium plan

[′wən ‚hən·drəd pər¦sent ′prē·mē·əm ‚plan]
(industrial engineering)
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.