Wal-Mart Ends Profit Sharing
What think you? Good thing or bad thing?
posted by Mark Moore (Moderator) at Saturday, October 09, 2010
Saturday, October 09, 2010
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6 Comments:
Profit sharing has never been a plus for me personally. I have worked with 2 companies that had paid out a total of $1,600 over 17 years in profit sharing. Wal Mart is a much larger company and will have huge profits but large company's have a way of hiding profits. Matching retirement funds put in by employees would be more desirable. If I read correctly they will also put $1000 into a health fund. Now that ought to pay a lot of doctor bills!
The profit sharing was great for those who got in early, but it is not such a big deal now.
Profit sharing is a way for companies to get their employees to believe they have a stake in the company's fortunes (or lack thereof), i.e. "The company does good, you do good."
Anonymous is correct - if you get in early enough & the company's stock grows fast, then yes, it's great, but not so great for those who get in after the initial growth curve.
This comment has been removed by the author.
I think Walmart needs to keep some sort of profit sharing. Just from the viewpoint of the company, employees will work harder and smarter if they believe their success is tied to that of the company's.
From the story:
"The memo also notes that employees have the "potential" to receive larger bonuses if the store, warehouse club or distribution center where they work performs well."
I think that could be the key. Tie the employee's success not to the success of Walmart the multinational conglomerate, but to the individual store where that employee works. I think employee's are much more likely to see how they can benefit their particular store, rather than the company as a whole.
Jack from iProv - Arkansas Internet Marketing
Jack makes a lot of sense. Wal-Mart is too big for an employee to work hard in the hopes that it will increase the stock price of the company. But locally, that is a different matter...
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