How to please workers and shareholders?

Lincoln Electric, a welding manufacturing company based in Ohio, has not laid off any employee for economic reasons since World War II, even in recession periods. How did they do it? Through a specific incentive management system, they foster both high competition and strong cooperation inside the company. Bonuses almost always exceed 60% of an employee’s basic earning, knowing that the average worker compensation is 68.000$ a year. Have they found the grail? Maybe not, yet through unusual managerial practices, they found a way to protect workers as well as profits. Video : Cleveland Manufacturer welds together job security, profits … Lire la suite