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

62 II.—PRIVATE FIRMS AND COMPANIES, June, 1912, their example had been followed by three other Gas Companies. It is of interest to note that these 33 profit-sharing Gas Companies manufactured between them in 1910 49 per cent, of the total gas produced by all the Gas Companies of the United Kingdom. The systems of Profit-sharing which are in operation in these undertakings are upon lines generally similar to the bonus and investment scheme of the South Metropolitan Gas Company, just described, but exhibit certain variations from that scheme, the more salient of which will now be indicated : — Conditions attached to Participation.—Participation in profits is almost invariably made conditional on the signing of an agree ment of service, usually for 12 months, but for shorter periods in the case of special classes of employees, particularly the men employed only in winter. Such a restriction is not however im posed, in practice, by the Rugby Gas Company, and is not provided for by the rules of the Watford Gas and Coke Company, the Epsom and Ewell Gas Company, the Plymouth and Stonehouse Gas Light and Coke Company, or the Aldershot Gas, Water and District Lighting Company. The Chester United, Wrex ham, and Dartford Gas Companies require that their employees, in order to be allowed to sign agreements, shall be members of Benefit Societies. The Gloucester Gas Light Company excludes from participation employees whose salaries exceed £200 per annum. Determination of Amount of Bonus.—In nearly all cases the rate of the bonus, as with the South Metropolitan Gas Company, varies inversely with the price of gas, and is not contingent upon any other factor. But in two cases (Epsom and Ewell Gas Com pany and the Watford Gas and Coke Company) the bonus takes the form of an addition to wages varying also with the amount of deposits with the Company made by the employee. The scheme of the Epsom and Ewell Gas Company provides that each profit-sharing employee shall pay to a fund created under the scheme Is. or 6d. a week, to which the Company adds an amount varying with the price of gas; thus, if the price of gas is 3s. Id. per 1,000 cubic feet, the bonus addition is at the rate of Is. or 6d. a week (i.e., an amount equal to the employee’s own payment); if the price falls to 3s. 6d., then the bonus addi tion rises to Is. Ofd. in the case of a man contributing to the fund Is. a week, or half that sum in the case of a man con tributing 6d.; and so on up to a maximum of Is. 6d. (or 9d., as the case may be) when the price of gas falls to 2s. lid. A scheme on generally similar lines is in force with the Wat ford Gas and Coke Company. Investment of Bonus.—While the rules of a large number of Gas Companies* provide, like those of the South Metropolitan Company, that one-half of each bonus shall always be invested in the Company’s stock, under the schemes in force with the * South Suburban Gras Company, Chester United Gas Company, Commercial Gas Company, Leamington Priors Gas Company, Tottenham and Edmonton Gas Light and Coke Company, Gloucester Gas Light Company, Grantham Gas Company, Longwood Gas Company, Liverpool United Gas Light Company, and the City of Waterford Gas Company.

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