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

DETAILED ACCOUNT OF VARIOUS SCHEMES. 55 dividend of 10 per cent, when the price of gas was not above 6d. per 1,000 feet, and an additional dividend of J per cent, for each reduction of one penny per 1,000 feet in the price of gas; the plan proposed was to give the employees a bonus of “ 1 per “cent, on their year’s wages for every penny reduction below “2s. 8d. per 1,000 feet” (the price then being 2s. 3d!.). In addition, there was to be placed to the credit of every man who should accept the scheme a sum equal to what he would have received as bonus if the scheme had been in force during the pre ceding three years, this “ nest-egg ” being equivalent to 9 per cent, on one year’s wages.* In order to take the benefits con ferred by the profit-sharing scheme, the workman was required to sign an agreement binding himself to work for the company for twelve months at the current rate of wages, the company agreeing to employ him during that period, and also undertaking “that no alteration shall be made in the wages to the disadvan- “ tage of any of the men.” The money coming to the employees under the scheme was not to be withdrawn, except in case of death, during the first year, “ nor during the first five years, “except in case of death, superannuation, or leaving the service “ of the company,” but was to remain on deposit at 4 per cent, with the company, and was to be forfeited in case of a strike or wilful injury to the company. Within a week about 1,000 of the regular workmen signed the agreement; but by many of the men much dissatisfaction was felt with the company’s proposals. A. very large number of stokers, being employed for the winter only, found that the scheme did not extend to them, and their hostility was, no doubt, a potent factor in promoting wide-spread discontent with the project. In consequence of a meeting between the directors and representatives of the workmen who had signed agreements, held on November 21, 1889, the company withdrew the clause under which a man was to forfeit his bonus in case of strike or wilful injury, agreed to allow the future annual bonuses to be paid out in cash, and made other modifications in order to meet objections. The scheme was issued in a revised form on November 27, 1889, provision now being made for paying a bonus to workmen employed during the winter only (as well as to the regular men), subject to their sig'ning an agreement to serve the company for three months. However, the Gas Workers Union manifested a strong aversion to the scheme on a variety of grounds, the most important objections being that the scheme was likely to induce men to leave the Union, and that men bound by twelve- monthly agreements, especially by agreements terminating at different dates, and punishable for breach of their contracts by penalties of a criminal 1" as well as of a civil nature, would find it impossible to strike with effectiveness, if such a measure should * This “nest-e«g” offer remained open until December 31, 1889. The original offer stated the amount as equivalent to 8 per cent, on one year’s wages ; this was altered on November 27, 1889. 1* Persons employed in gasworks, such as those of this company, who break a contract of service can, under certain circumstances, be punished by fine or imprisonment under the Conspiracy and Protection of Property Act, 1875 (38 & 89 Yict. c. 86, sec. 4).

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