Report on profit-sharing and labour co-partnership in the United Kingdom

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Monograph

Identifikator:: 1016336950

URN:: urn:nbn:de:zbw-retromon-27123

Document type:: Monograph

Title:: Report on profit-sharing and labour co-partnership in the United Kingdom

Place of publication:: London

Publisher:: His Majesty's Stationery Office

Year of publication:: 1912

Scope:: 1 Online-Ressource (160 Seiten)

Digitisation:: 2018

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: II. Profit sharing and co-partnership in private firms and companies

Collection:: Economics Books

ANALYSIS OF SCHEMES NOW IN FORCE. DETAILED 27 ACCOUNT OF VARIOUS SCHEMES. without the consent of the company will lose their right to share in profits( a ); in some cases( b ) it is expressly provided that such loss of right is only incurred by employees who sell shares to persons outside the company’s employment. Under scheme No. 125 half of the bonus is paid in the form of bonus certificates, which benefit as ordinary shares, and are not transferable in ordinary circumstances, but may be transferred on the death of an employee to his representative, or will be redeemed by the com pany. No restriction is generally placed on the devolution of shares on the death of the holder, and in the case of many gas companies special facilities are offered for the transfer of shares to the holder’s nominated representative. Share in Control of Business. As a rule—though there are some important exceptions, as noted above—the shares owned by the employees give them the ' ordinary voting powers; and as time goes on and their holdings increase, their voting strength should in due course be augmented. At present, the proportion of the total number of votes which belongs to the employees reaches or exceeds 5 per cent, in only a few cases(°) and is in nearly all cases a quite insignificant percentage. The employees are represented on the Board of Directors in 9 cases.( a ) There exist, however, under a very large number of profit-sharing schemes,( e ) joint committees composed of employers and employed whose functions, although of a consulta tive nature only, cannot be considered unimportant.( f ) 0.—DETAILED ACCOUNT OF SCHEMES OF VARIOUS TYPES. xllthough it is not practicable to describe in detail all the profit- sharing schemes which have been adopted in the United Kingdom, the different kinds of Profit-sharing will be illustrated by a short account of certain schemes of various types. Cash Bonus.* Taking first the form of Profit-sharing in which the whole of the bonus is paid in cash, and in which, neither by the invest ment of their bonuses nor of their other savings, have the em ployees acquired an interest in the capital of the undertaking by ( a ) The principal exceptions are Nos. 38 and 86, which make no provision against selling Stock. ( b ) Nos. 55, 82, 83, 89, 94, 95, 96, 100, 107, 119, 121, 128. (°) The principal cases are No. 7, 53 per cent, (including the wives and children of employees) ; No. 49, 25 per cent. ; No. 61, 20’6 per cent. ; No. 81, 19*5 per cent. ; No. 69, 12'5 per cent. ; No. 77, 10'6 per cent. ; No. 56, 8’5 per cent. ; No. 74, 6'6 per cent. ; No. 6, 6 per cent. ; No. 68, 5'7 per cent. ; and No. 101, 5 per cent. (D Nos. 7, 24, 38, 48, 49, 61, 72, 76. 133. ( n ) All gas companies and Nos. 5, 20, 23, 29, 39, 41, 78, 103, 106, 124. ( f ) Some description of the functions of a joint committee will be found on pp. 59 and 60. * A general form for a simple profit-sharing scheme with cash bonus will be found in Appendix F., pp. 128-130.

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