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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Chapter

Document type:: Monograph

Structure type:: Chapter

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

Collection:: Economics Books

36 II.—PRIVATE FIRMS AND COMPANIES. certificates for eight years; and of the total number of certificates issued, 303 were retrospective for eight years or over, 42 for seven years, 81 for six, 123 for five, 159 for four, 131 for three, 99 for two, and 103 for one year.* In 1910 the total amount of Certificates (of both kinds) was raised to £214,982, in 1911 to £298,731. It may he mentioned that the dividends on the Partnership Certificates are credited to the persons entitled to receive them in a Savings Bank account, opened for the purpose in the Com pany’s books in 1909. The total number of persons employed by Lever Brothers, Limited, and by its Associated Companies in 1911 in the United Kingdom was over 9,000. There were 2,500 employed outside the United Kingdom. Of these, at the end of 1911, .1,749 (1,448 in the United Kingdom, 301 outside it) were the holders of Partnership or Preferential Certificates under the Scheme above described. In reply to the Department’s question as to the results obtained by these arrangements, the Company writes : — “ It is too early yet, in the opinion of the Chairman of the Company, to speak authoritatively with reference to the Co partnership Scheme. But his experience is that with the majority the Scheme does increase their sense of responsi bility and loyalty to the firm, perseverance and assiduity in discharge of duties. He would not abandon it, nor has he any desire to go back to the days before the Scheme. If it were not in operation, he would desire to provide such a Scheme, and he does not think his experience of it has dis closed any inherent defects or any possibility as far as this business is concerned of very materially improving upon it.” Bonus, part Cash, part Provident Fund.* An example of the type of Profit-sharing in which part of the fund available for the payment of bonus is paid in cash and the remainder is credited to a Provident Fund for the benefit of the employees may be found in the scheme of a large London firm of confectionery manufacturers, Messrs. Clarke, Kiel,oils, and Coombs, Limited, which came into force on January 1, 1890. The arrangement in this case is that “ after paying all salaries, liabilities on agreements, making allowances for bad debts, and the usual provision for depreciation and other reserves, paying interest on debentures, dividend on preference shares, and a dividend at the rate of 6 per cent.t on the ordinary capital of * The Eules of a profit-sharing scheme with bonus partly paid in cash partly credited to Provident Fund will be found in Appendix G-., pp. 130-133. f The company states that it had paid 10 per cent, on its ordinary shares for two years prior to the introduction of the profit-sharing scheme, “ but it was thought wiser to start dividing profits with the workpeople after only 6 per cent, had been paid to the ordinary shareholders. The directors suggested this as having every confidence in the scheme themselves, they thought, if the workpeople saw something tangible within their grasp, they would be more likely to give it a fair trial.”

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