Word: bonus
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Scanlon's way is actually less a formal plan than an approach, with three constant ingredients. First, the union and management in the plant fix a productivity "norm," and the working force is promised a bonus out of the savings the workers can effect by producing at a lower cost per unit. Unlike many other incentive plans, the Scanlon Plan is noncompetitive, does not throw the plant wage structure out of balance, and unites the men on a common goal instead of pitting them against each other. The second ingredient is a system of production councils in which union...
Soon the new joint union-management was flooded with workers' suggestions. Welders who had stood around waiting for materials began helping to unload. Workers formerly indifferent to substandard work turned out by slackers began raising Cain: it cut down their bonus. Employees and executives became a team working toward a mutual goal. After a year, the Adamson Co. was five times as profitable as in the old days; even after sharing the productivity savings 50-50, management still reaped twice as much income. As for the workers, a union veteran of many picket lines told Scanlon...
...vital-and devised a productivity norm. In Parker's case, it was the fiscal year March 1953 through February 1954. He then arranged that the savings on output made at less than the costs of the base year figure (as measured by sales value) should go into a bonus pool. A fourth of the pool money was automatically set aside as a reserve fund to be paid out in the break-even or deficit months when no bonus was earned. The rest of the melon-made up of increased value through productivity savings-was split; labor got a whopping...
...bonus, every stockholder got a warrant giving him a "right" for each share of stock held. Eight rights allow the holder to buy a $100 debenture. He can hold it and get 3⅞% interest, or turn it in, after Dec. 13, with $48 in cash, for one share of common stock. This makes it possible for the debenture holder to buy a share of stock at $148, or $31 less than the current selling price. Thus a right was worth about $3.20 at last week's price of A.T. & T. stock...
...they bring in. Columbia is tooled up to service 500,000 subscribers (about 5% of U.S. LP phonograph owners) with performances by Columbia's own stars in jazz, pop, film and classical fields. For every two records bought the subscriber gets one specially pressed disk free. First classical bonus: Sir Thomas Beecham conducting "Great 19th Century Overtures...