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Case # 3: Lincoln Electric
Not many people know about Lincoln Electric, a Cleveland, Ohio based manufacturer of welding machinery and consumables, and a world leader in sales of those. Even less know about its founding philosophy, which is based on "unbounded faith in the individual and a belief in the equity of management and workers." In real world terms that translates into an incentive system for all employees, based on four key concepts: wages based solely on a piecework output, a year end bonus dependent
on productivity and merit ranking, guaranteed employment, and highly limited benefits. This system worked great in the United States over the years, but it proved problematic in other countries, for various reasons.
In countries such as Brazil and Germany, the incentive system could not work, mainly for the legal reasons; in Brazil any bonus paid for two consecutive years became a legal entitlement and in Germany piecework was illegal altogether. Other factors that have......
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Title: Lincoln Electric
Approximate Word Count: 611
Approximate Pages: 3 (250 words per double-spaced page)
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