The Lincoln Electric Company

Headquartered in Euclid, Ohio, a suburb of Cleveland, The capital of Nebraska galvanic conjunction is a world leader in welding and cutting products, as well as a premier manufacturer of electric motors. The familiarity is well known for its dedicated, talented workforce and its superior technology. capital of Nebraska galvanizing community gives its customers total solutions along with a commitment to quality. capital of Nebraska electrical phoner is also well known for its incentive management system. more companies strive to duplicate the success that capital of Nebraska has enjoyed over the years.John C. capital of Nebraska founded capital of Nebraska Electric Company in 1895 with a capital investment of $200. At first he completely designed electric motors, tho in 1909, he began to build welding machines. In 1814, he employ his brother James to be the VP and manager of his company.In 1934, the famous capital of Nebraska bonus political program was instated as employ ees enjoyed bonuses of 25% of their base even up. By 1940, capital of Nebraska employees enjoyed two metres the average pay and productivity of similar Cleveland workers.Lincoln has built a very profitable company. This by way of treating each(prenominal) of its stakeholders with the utmost importance. Lincoln always unplowed its prices very fair, if not in like manner fair for the customers. In many cases, the price of an item or service of process provided by Lincoln had gone down over the years. At the homogeneous time, employees salaries actually went up. This is just one example why Lincoln has flourished. wherefore are the employees at Lincoln Electric Company so pleased as well as so productive? Why were Lincoln employees willing to work overtime during an August vacation time in 1994? The following benefits are some of the main reasons why Lincoln employees will do almost anything to help its employeran employee stock purchase plancompany-paid life insurancepiece rates adjusted for inflationa practice of lifetime employmentSince its inception in 1895, Lincoln Electric Company was privately owned. This allowed for the protection of the processes that has kept Lincoln in the lead. However, aft(prenominal) two years of losses in 1992 and 1993 due to a uncouth foreign market, Lincoln Electric Company had to go public.With multi-million dollar, domestic updates and acquisitions in such countries as Italy, China, and Indonesia, Lincoln Electric Company wasted no time by dwelling on its first losses in Lincolns history. Lincoln is back on track as the world leader in arc welding, after faltering for only two years. Lincoln is committed to providing substantial value to all of its stakeholders. actually satisfied, dedicated and talented employeesIncentive performance systemCustomers interests were held as more important than the stockholdersLow prices kept customers pleasedExceptional quality (one Lincoln distributor said he sold hundreds of Lincoln we lders without even one returnGood relationships with unionsLincoln would guarantee a price quote in writingHaving to go public after nearly 100 yearsThe incentive pay scheme needs some updatesTry to regain the its long-time standing as a privately owned companyStockholders could threaten with the need for a traditional pay scheme and this could interfere with the excellent relationship that Lincoln Electric has with its employeesThere is really nothing that Lincoln Electric Company can do that has not already been done. Lincoln Electric Company never had a loss until its over sea operations began to suffer in 1992. During the global organization, Lincolns employees voluntarily postponed their vacations in order to meet customer demand. Sales records have been set for all quarter since mid 1993. The only area that I see that could be changed is the way that the employees are compensated.