profit-sharing


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Related to profit-sharing: Gainsharing

profit-sharing

a system in which a portion of the net profit of a business is distributed to its employees, usually in proportion to their wages or their length of service
References in periodicals archive ?
The business currently pays $12 an hour to all nonmanagers, with profit-sharing varying throughout the year based on seasonal sales and profits.
A total of 46,500 employees will receive the profit-sharing checks, according to GM.
Introducing profit-sharing doesn't mean the restaurant is exempt from paying the new minimum wage, and the profit-sharing model doesn't mean they have to do any "risk sharing."
The profile of insurers' new business is likely to shift immediately when the new system is introduced, with all newly written with-profits contracts operating under the new profit-sharing mechanism.
Participation in a profit-sharing plan typically must be offered to all employees age 21 or older who worked at least 1,000 hours in a previous year.
Therefore, Centamin is not authorised to determine the commencement of profit-sharing.
Semler sums up his philosophy, 'Participation gives people control of their work, profit-sharing gives them a reason to do it better, and information tells them what's working and what isn't.' Semler's sensitive to the central problem of the corporation that Peter Drucker highlighted: the dichotomy between the principles of a liberal society and the way companies work.
After the so-called "round zero" tender, Pemex would then be free to team up with private oil companies, with the first such profit-sharing contracts likely sealed in the second half of 2014.
This can lower the profit-sharing formula and reduce the employee cost to owners.
'The profit-sharing programme further aligns compensation with the long-term performance of Citi,' a spokeswoman for the company said.
Officers of the company, including president & CEO Jeff Smisek, handed out profit-sharing cheques yesterday to employees at airports across its network, including George Bush Intercontinental Airport in Houston and Chicago's O'Hare International Airport.
The company contributes about 12 percent of its pretax earnings to the profit-sharing plan.