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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.)
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"2010 Noteworthy Book in Industrial Relations and Labor Economics." - Princeton University
Great book, gave many to friends and colleagues to share a great store. As for book condition: even used ones were in decent condition.Published 8 months ago by Olav Cramer
I enjoyed the history of Franklin Electric and their guarantee of employment for their workers, but the book became repetitive. It made it slow to read.Published 13 months ago by Jane F Haskin
Is guaranteed employment a viable business strategy? After reading this book, I would say .... Maybe. Well written and researched.Published 19 months ago by Paul Downs
This is one the best books I've read. It's about the success and great management of a great old-school company. Read morePublished 21 months ago by fourdegreesc
I recommend this book to anybody who appreciates the industrial history of the U.S. The book does a good job of discussing how Lincoln Electric began in the 19th Century and how... Read morePublished 22 months ago by LeTU MBA
Outstanding review of a unique company and the principles which have made it successfull. These principles could be applied to other companies.Published on February 26, 2013 by James Rosenthal