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 OP SCHEMES NOW IN FORCE. 19 24548 B 2 of the employees; others( a ) in which 5 per cent, is allotted, one( b ) of 3 per cent., another( b ) of 1| per cent., one(°) in which the share of the employees is 2\ per cent, of the divisible profits up to a certain sum, and 5 per cent, of the profits in excess of such sum; the whole of the divisible profits are allotted to employees in one case,( d ) while in another( e ) the whole of the profits from one department are so allotted, with one-half of the remaining' profits. It is, however, necessary to state that many of the returns contain no information as to the percentage of profits allotted to em ployees in cases where there is not known to be any “ reserved limit.” In a few cases( f ) capital and wages share concurrently, the bonus being at the same rate on wages as the rate of interest received by capital. Where the participation of employees in profits is dependent upon the profits reaching a certain fixed amount, the proportion of the surplus profits above this reserved limit which, so far as is known, is appropriated to the payment of bonus varies from 5 per cent, up to 50 per cent., about one-third (») of the schemes which fix the bonus in this way allotting the latter percentage. (For the other percentages, see note( b ).) In one case (No. 78) the whole of the profits above the reserved limit are allotted to employees up to 5 per cent, on their wages. In a number of cases) 1 ) the surplus is shared between capital and wages qyro rata, i.e., the bonus on wages is at the same rate as the dividend on capital; this plan being varied in the case of No. 65 by giving half a week’s wages for every half per cent, over 5 per cent, paid as dividend. In three cases (Nos. 63, 64, and 68) in which the employees’ right to share in profits is conditional on the profits reaching a certain standard, the bonus allotted is based on the total net profits (not the surplus profits over the reserved limit), the employees getting per cent, of such profits in the case of No. 63, 10 to 15 per cent, (rising with the profits) in the case of No. 640, and in the case of No. 68 a dividend on their wages equal to one-quarter of the rate of dividend paid to ordinary shareholders. With regard to the division of the total bonus fund among the different employees, by far the most common method adopted is to divide this fund between the participants in proportion to the amount which each has earned in the period to which the distri bution relates; but in making the calculation overtime is excluded in a few schemes( k ), overtime and piecework in a consider- (“) Nos. 50, 70 (may vary to 6 per cent.) 71, and one anonymous case. ( b ) Anonymous. (°) No. 130. ( a ) No. 37. ( c ) No. 3. ( f ) Nos. 36, 48, 54. (s) Nos. 19, 25, 35, 49, 66, 112, 131 ; in the case of No. 61 the directors and employees share between them half the surplus profits. ( h ) The percentage is 33^ for No. 6 ; 25 for Nos. 5, 16, 27, 120 ; 20 for Nos 14, 76 ; 16§ for No. 81 ; and 5 for Nos. 26, 40, and an anonymous case ; in the case of No. 125 the amount given to employees is equivalent to 15 per cent, of the dividends paid to shareholders in excess of 10 per cent. 0 Nos. 43, 51, 73, 87, 88, 92, 115, 117. 0 There is a further provision that “ the amount to be distributed must not bring the profit remaining below the figure it would have stood at, if the lower percentage had been calculated on the highest amount to which the lower percentage applied.” ( k ) Nos. 5, 23, 26, 53, 86, 94,

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