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Spark: How Old-Fashioned Values Drive a Twenty-First-Century Corporation: Lessons from Lincoln Electric's U - Softcover
Synopsis
Cleveland-based manufacturer Lincoln Electric has thrived for more than a century. It survived two World Wars, the Great Depression, the decline of industrial America, and the recent credit crash with impressive profits. While factories across the Midwest fired employees and shuttered their doors, Lincoln Electric fulfilled its promise of Guaranteed Continuous Employment,” a company pledge to avoid layoffs for economic reasons. By promoting loyalty, trust, and flexibility, Lincoln Electric has built a company of committed, hard-working employees and a reputation of excellence.
In this insightful and spirited investigation, journalist Frank Koller digs deep into Lincoln Electric's inner workings revealing surprising lessons about what happens when managers view their employees as valued assets rather than costs.
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About the Author
Frank Koller covers the workplace for the Canadian Broadcasting Corporation. Over a twenty-seven-year career with CBC, he has worked and lived around the world as a foreign correspondent, including seven years in the United States. He holds a Master's Degree in Engineering from the Massachusetts Institute of Technology. He lives in Ottawa.
From Publishers Weekly
Veteran journalist Koller goes inside Lincoln Electric, a Cleveland arc-welding equipment manufacturer dating back to 1895, a company that promises that no permanent employee who meets the firm's performance standards will ever be laid off due to lack of work. This promise is so sacrosanct, it's included in the employee handbook and in the organization's annual report. The company has also paid out profit-sharing bonuses without fail since 1934, bonuses which almost always exceed 60% of an employee's basic earnings. Koller offers a fascinating glimpse into this remarkable yet, in many ways, ordinary organization, which survives, even thrives, in a sunset industry where overseas outsourcing is the norm. Readers follow the company through the days of Carnegie and Rockefeller, recessions in the 1950s, and the present crisis, and witness how it weathers challenges. Instructive and heartening, this book offers a proven model for companies that not only want healthy bottom lines but also satisfied, dedicated employees. (Feb.)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
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- PublisherPublicAffairs
- Publication date2011
- ISBN 10 1610390539
- ISBN 13 9781610390538
- BindingPaperback
- Number of pages272
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