INCENTIVE MANAGEMENT
Lincoln Electric’s founders established a way of doing business that remains central to who we are today. The “Golden Rule” (treating others as one wants to be treated) is at the heart of how we conduct ourselves as a business and a community and lays the foundation for the Company’s core values of integrity, performance, quality, employee development, commitment, and customer focus. Together with Incentive Management, the Golden Rule helps us focus on development strategies rooted in inclusion and seek success for all employees as an outcome.
Our co-founder, JF Lincoln, designed Lincoln Electric’s renowned Incentive Management System to align stakeholder interests around a performance-based system that encourages employees to maximize their potential, rewards operational efficiency and excellence, and generates superior value for shareholders.
LINCOLN ELECTRIC WAS RECOGNIZED IN 2020 AND 2021 BY FORBES AS “ONE OF THE WORLD’S BEST EMPLOYERS” AND AS ONE OF THE “WORLD’S TOP FEMALE FRIENDLY COMPANIES” IN 2021.
Today, all of our global businesses operate under an incentive management philosophy, including performance-based compensation programs, profit sharing, and an open door policy. We strongly believe that this philosophy creates the best atmosphere for employees to thrive, learn, grow, and be rewarded for exceptional performance. Fueled with initiative, opportunities to learn and grow, and a collective commitment to the core values, our people are united in a shared mission to build a better world.
JF Lincoln’s Incentive Management System
Key Components
Production employees can maximize their earnings through piecework compensation (per-unit basis) as opposed to a standard hourly rate.
Eligible employees will not be laid off for an economic downturn.
Eligible employees receive an annual, merit-based profit- sharing bonus.
Employees have informal access to executive management to foster open communication.