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

Bibliographic data

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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130 APPENDIX F: APPENDIX G. Some Alternative Rules. An alternative “ Method of Profit-sharing ” found to be preferable in some cases, e.g., with rapidly growing businesses. The actual percentage can, if desired, be communicated confidentially to a chartered accountant; but in such a case it would be advisable to give the employees some intimation of the addition to ordinary wages it will be possible for them to earn. (1.) In lieu of Rules 1 and 2 above:—Prom and after the 1st of January, 1890 per cent, of the clear profits of the business will be distributed gratuitously as a bonus to the employees in the manner defined by these rules. An alternative “ Method of Distribution,” suitable to businesses in which the majority of the employees are piece-workers. (6.) In lieu of Rule 6 above:—The employees’ share of profits accruing in each financial year is (subject as after mentioned) to be distributed among them in proportion to the respective salaries or wages earned by them during such year. If this alternative rule he adopted, the last clause in the first sentenoe of Rule 8 above (commencing “ in proportion to ”) should be omitted. APPENDIX Gr. RULES OF THE PROFIT-SHARING SCHEME FORMERLY IN force with Messrs. Thomas Bushill and Sons, Manufacturing Stationers, Coventry ; Cash Bonus and Provident Fund.* (Reprinted from Profit-sharing and the Labour Question, by T. VV. Bushill, pp. 206-212.) (1.) Method of Profit-sharing.—From and after the 1st of September, 1888, the surplus (if any) of the clear profits of the business beyond such definite sum as is for the time being reserved to the firm for their own benefit (herein-after referred to as the “ reserved limit ”) shall be divided into two equal parts, one thereof to be distributed gratuitously as a bonus to the employees in the manner defined by these rules, and the other to be retained by the firm. (2.) The “ Reserved Limit.”—The present reserved limit has been com municated confidentially to Mr. Charles J. Angus, 43, Finsbury Circus, London, E.C., Chartered Accountant, and will not be altered for the first three years if the scheme so long subsists. Thereafter it may be raised or reduced by the firm, but (unless altered during some month of Sep tember) not so as to affect the distribution of profits for the financial year current at the time of the alteration. Notice of any alteration will be given to the employees in such manner as to let them know how far such alteration would have affected the last preceding distribution had it then been in force. (3.) Accountant’s Certificate.—-The amount (if any) available for dis tribution will each year be certified by a chartered accountant and will be communicated to the employees. (4.) Qualifications for Profit-sharing.—The employees entitled to share in the profits for any financial year are such only as at the commencement of such year on the 1st day of September were members of the sick club, and have on or before that date delivered to the firm’s cashier for the time being a certificate or other satisfactory evidence of age, and a request to be entered on the list of profit-sharers. (5.) Duration of Scheme.—The scheme is to continue in force only until the firm give notice to the employees putting an end thereto; but * The firm (now T. Bushill & Sons, Ltd.) subsequently wished to transfer the Provident Fund to the National Debt Commissioners. The Commissioners, however, were unable to accept it as a trust fund, and the firm consequently decided to discontinue the fund and pay the whole bonus in cash.

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