And now ask yourself why most companies have NOT embraced profit sharing? It is an indisputable fact that sharing in the profits improves employee loyalty, productivity, and longevity.
At HD, another component of that original vibrant culture was that new ideas from the sales floor were encouraged. Those that dealt with customers came up with projects that increased sales. The really successful ones were scaled up and spread to other stores. General Managers were required to bring these success stories to their bosses. It became a competition - a healthy one.
When one feels like an owner, another interesting thing happens. One looks at the behavior of fellow employees with a more critical eye. You can imagine how many behavioral problems were settled "orange apron to orange apron" with managers never aware. I remember overhearing one salesperson speaking to another and saying: "....knock it off, don't mess with MY company...don't mess with my "stock"!..."
And so...why hasn't profit sharing and employee stock plans become standard procedure in most companies? I can only come up with one answer: "short sighted greed" by the bean counters. But I am listening. Any ideas?
And now ask yourself why most companies have NOT embraced profit sharing? It is an indisputable fact that sharing in the profits improves employee loyalty, productivity, and longevity.
At HD, another component of that original vibrant culture was that new ideas from the sales floor were encouraged. Those that dealt with customers came up with projects that increased sales. The really successful ones were scaled up and spread to other stores. General Managers were required to bring these success stories to their bosses. It became a competition - a healthy one.
When one feels like an owner, another interesting thing happens. One looks at the behavior of fellow employees with a more critical eye. You can imagine how many behavioral problems were settled "orange apron to orange apron" with managers never aware. I remember overhearing one salesperson speaking to another and saying: "....knock it off, don't mess with MY company...don't mess with my "stock"!..."
And so...why hasn't profit sharing and employee stock plans become standard procedure in most companies? I can only come up with one answer: "short sighted greed" by the bean counters. But I am listening. Any ideas?
Idea: lobby Congress to pass a law requiring profit sharing for companies with more than 10 employees.
That link at the end was the most important thing in the whole article Bill. Without basic equity the system will eventually burn itself down.