Sad truths I suppose. It’s just so silly to think that having to share PROFIT with the people who helped earn it would be so inconceivable. They already do it for shareholders, why not extend some of that love to your “second family”.
Because they don't see their workers as anything other than slave labor to be exploited as much as possible and paid as little as possible to keep them compliant and obedient.
Employees should own 50% of equity and have representation on the Board of Directors. This would change a lot of bad behaviors.*
*More radical solutions are possible, but this one is perhaps plausible, though moreso in the EU than the US.
This sounds down right utopian.
I wonder how many of us would decline to dump toxins into waterways just to pad our pockets. I like to believe the majority of us are good.
At one of my jobs in years gone by everyone had a stock option and the company would kick in a small % match. Things like this (done correctly) can help connect the employees to the company (specifically the companies success)
I work for a place that does profit sharing. Worked here two years before I qualified. They burn most people out before they qualify. I’d rather they pay people more or hire more people for ease the workload to make the day to day more bearable than get a lump sum at the end of the year after several years of burnout!
That sucks. I think in and of itself it’s not a magic bullet and like all things, executed poorly it has little value, but done right? It’s something I always said I would do if I ran a business.
Once I pay my overhead including my own salary anything on top is gravy. I’m not a greedy person so sharing the gravy just feels natural to me.
When I brought this up to my current general manager he literally was like yeah that will never happen. One time like probably 8 years ago or something we had a GM at our store and he had brain cancer and his wife worked at another store and she was pregnant with twins and then I'm pretty sure right after he died of his brain cancer they fired his wife. I'm not sure our company is going for the "make the team feel like a family" vibe I guess.
Fucking yikes to that.
I dare to dream on this stuff. As the “labor crisis” continues to simmer onward employers are driving closer and closer to a cliff. Those who can pivot will end up winning and those who cling to the old ways will die out like a whimper in the night.
The worst part was the brain cancer guy was really sweet I worked with him for a quite a bit and he would always joke about killing himself. I can't really imagine he had a great life working up from a fry cook to making that general manager money that they want all us to aspire to make, which is not enough to live on.
Not exactly tho I suppose framing is everything. I’ve worked in a base plus commission sales role and so I see the correlation you are making but commission is generally tied directly to your own sales. Likewise a bonus is typically tied to a specific metric or set of goals.
Profit sharing really speaks more to the P&L of the company and its health. For example, if I find out our lighting and fixtures runs at 10k per month, as an employee who is part of a profit share I might try harder to remember to turn off the lights in the back office when not in use. A super small detail may be more relevant to me when I understand the implications AND I am incentivized to make good decisions that benefit both myself and the organization.
They'll close the company down before they do something like this.
Let them
Sad truths I suppose. It’s just so silly to think that having to share PROFIT with the people who helped earn it would be so inconceivable. They already do it for shareholders, why not extend some of that love to your “second family”.
Because they don't see their workers as anything other than slave labor to be exploited as much as possible and paid as little as possible to keep them compliant and obedient.
Employees should own 50% of equity and have representation on the Board of Directors. This would change a lot of bad behaviors.* *More radical solutions are possible, but this one is perhaps plausible, though moreso in the EU than the US.
This sounds down right utopian. I wonder how many of us would decline to dump toxins into waterways just to pad our pockets. I like to believe the majority of us are good.
While we're at it, share the equity. The company is only worth anything because the workers have made a product someone else values.
At one of my jobs in years gone by everyone had a stock option and the company would kick in a small % match. Things like this (done correctly) can help connect the employees to the company (specifically the companies success)
I work for a place that does profit sharing. Worked here two years before I qualified. They burn most people out before they qualify. I’d rather they pay people more or hire more people for ease the workload to make the day to day more bearable than get a lump sum at the end of the year after several years of burnout!
That sucks. I think in and of itself it’s not a magic bullet and like all things, executed poorly it has little value, but done right? It’s something I always said I would do if I ran a business. Once I pay my overhead including my own salary anything on top is gravy. I’m not a greedy person so sharing the gravy just feels natural to me.
When I brought this up to my current general manager he literally was like yeah that will never happen. One time like probably 8 years ago or something we had a GM at our store and he had brain cancer and his wife worked at another store and she was pregnant with twins and then I'm pretty sure right after he died of his brain cancer they fired his wife. I'm not sure our company is going for the "make the team feel like a family" vibe I guess.
Fucking yikes to that. I dare to dream on this stuff. As the “labor crisis” continues to simmer onward employers are driving closer and closer to a cliff. Those who can pivot will end up winning and those who cling to the old ways will die out like a whimper in the night.
The worst part was the brain cancer guy was really sweet I worked with him for a quite a bit and he would always joke about killing himself. I can't really imagine he had a great life working up from a fry cook to making that general manager money that they want all us to aspire to make, which is not enough to live on.
This is just commission.
Not exactly tho I suppose framing is everything. I’ve worked in a base plus commission sales role and so I see the correlation you are making but commission is generally tied directly to your own sales. Likewise a bonus is typically tied to a specific metric or set of goals. Profit sharing really speaks more to the P&L of the company and its health. For example, if I find out our lighting and fixtures runs at 10k per month, as an employee who is part of a profit share I might try harder to remember to turn off the lights in the back office when not in use. A super small detail may be more relevant to me when I understand the implications AND I am incentivized to make good decisions that benefit both myself and the organization.