Should workers be rewarded for the profits they help to create?

wolvoman

Yes

For all those advocating the John Lewis approach, don't forget it is owned (in partnership) by the employees.

So if the same principle were to be applied to other companies, the employees would have to buy the company from the existing shareholders.

So to take Sainsbury's as an example, current market value is approx £4bn. So across 150,000 employees, they'd each have to stump up an average of £27,000. Even if it were pro-rata based on employee salary then the bottom paid shelf stackers would need to invest something like £20k each.

So how is it going to happen?

antrobus

wolvoman wrote: »

For all those advocating the John Lewis approach, don't forget it is owned (in partnership) by the employees.....

Technically speaking, no. John Lewis is owned by a trust, for the benefit of the employees. Which is an important distinction, because it means that the employees cannot sell their ownership.

wolvoman wrote: »

..So if the same principle were to be applied to other companies, the employees would have to buy the company from the existing shareholders.....

As far as JLP is concerned, they didn't buy it, it was given to them by John Spedan Lewis.

wolvoman wrote: »

...
So to take Sainsbury's as an example, current market value is approx £4bn. So across 150,000 employees, they'd each have to stump up an average of £27,000. Even if it were pro-rata based on employee salary then the bottom paid shelf stackers would need to invest something like £20k each.

So how is it going to happen?

It ain't.:)

Loughton_Monkey

No

wolvoman wrote: »

......So to take Sainsbury's as an example, current market value is approx £4bn. So across 150,000 employees, they'd each have to stump up an average of £27,000. Even if it were pro-rata based on employee salary then the bottom paid shelf stackers would need to invest something like £20k each.....

I am unfortunate enough to use Sainsbury's [only for convenience. Alternatives are difficult.]

In my experience, shelf stackers in our local store are few and far between. Basically they don't stock the shelves. Every week there is something on the list where the shelf is empty. This is rather ironic when (as I understand it) Sainsbury were the first to invent computerised stock control yonks ago.

I usually shop Friday. By luck, last week I went Thursday. But had to return Friday for something they didn't have. Just as well, because all the packed meat was off the shelves. Not a pork chop, lamb steak, or piece of rump to be had whatsoever. I am not exaggerating. OK, the reason was that they were cleaning the shelves, so had transported the whole shooting match back to the fridges in the back, but surely that's something they should do overnight?

All of these will be 'management' issues, rather than the direct fault of the 'workers'. But the managers will grab the lion's share of whatever bonuses, or profit share is going round....

Having said that, however, I suspect that £6.50 an hour is way more than a good shelf stacker is 'worth'. Far better to employ 14 year old kids after school and throw them a pound or two pocket money for a couple of hours' work. Apparently you can't do that legally these days.

chewmylegoff

The industry which has typically made the greatest effort to reward its employees with a whacking great share of profits is the banking industry. That went well.