SUCCESS OF A PROFIT-SHARING SCHEME.

Colonist, Volume LII, Issue 12766, 7 February 1910, Page 4

SUCCESS OF A PROFIT-SHARING SCHEME.

A little over a year ago Sir Christopher Furness, the noted shipowner, suggested a .scheme to the workmen in one of his yards by which they were to become shareholders m the company, participating equally m surplus profits after the ordinary shareholders had received 5 per cent. .Sir Christopher's idea was that by this means he would be able to. enlist tho enthusiastic co-operation of the men, and to do away with the strikes and disputes which have done so much harm to trade on the north-east coast. The men accented the, offer provisionally for a year. Details are now published of the results obtained during the first nine months. From every point of view these are, in the opinion of all concerned, employers and men alike, satisfactory (states a London paper). The yards have been well employed, and work has proceeded with comfort to all concerned. Orders have been filled in record time. In one case, where the company undertook to complete a great task in six weeks, the work was finished with six days to spare. This, said the secretary,; "is ony a sample of tha evidence as to the value of the scheme and the loyalty of the- men." Financially the record is equually good. Additional profits have been made to justify already the distribution of a bonus of 5 per cent, all round. "The board feel that they have every reason to be satisfied with the amiable and agreeable manner in which the company's business has been transacted," they declare officially. The Furness plan of admitting men to a voice in the management md a share of the profits may yet prove the solution of the great labour problem.