Case Study of Lincoln Electric Company Essay
“We are a global manufacturer and the market leader of the highest quality welding, cutting and joining products. Our enduring passion for the development and application of our technologies allows us to create complete solutions that make our customers more productive and successful. We will distinguish ourselves through an unwavering commitment to our employees and a relentless drive to maximize shareholder value” (http://www.lincolnelectric.com/en-us/company/Pages/vision-statement.aspx). This is the vision of James Lincoln, founder of Lincoln Electric Company. I will look at this vision and apply it towards the …show more content…
Integration and Application. P. 104
Review the cases of Southwest Airlines and Lincoln Electric and answer the follow questions regarding the company you chose:
a. What evidence exists to demonstrate that each company manages employees fairly and legally?
Obviously, the employees at Lincoln are happy because they have a low turnover rate. With the incentive plans intact, employees enjoy their working relationship with the managers. The Lincoln Employees Association was formed in the early 1900 to provide health benefits and social activities. The pay rate is competitive and adjusted according to Consumer Price Index. They get two weeks vacation every year. Employees can buy stocks in their company.
b. Are there company practices at Lincoln Electric that you would consider to be unfair? If so, which ones? Why?
Lincoln Electric’s method to employee compensation continues to be contentious, maybe partly because of a lack of grasping of what it involves, partly to labels created by organized labor, and