Incentive Management Case Study: Lincoln Electric Company
Analysis of the case study on Lincoln Electric Company
Lincoln Electric Company is noted as very successful business enterprise whose success is tied to it organizational culture that has evolved from the beginning of the company in 1906.
Influence of Founders
The influence of the founders of the company have remained relevant in the affairs of the company up to the time of the writing of the case study. James F. Lincoln had enormous influence on the company and moved it towards a culture that is essentially a hybrid of outcome –oriented culture and people-oriented culture. This culture did emerge from his early initiation of a robust consultative process involving management and employee. This led to the development by trial of an ongoing effective leadership and management program that served to improve productivity while also
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Incentive Management
The Lincoln incentive management plan established by Lincoln Electric Company is exemplary. “The typical Lincoln employee earns about twice as much as other factory workers in the Cleveland area” (Sharplin, 1989). James drove an agenda that approached business by treating the employees as assets deserve respect. It is also noteworthy that the company is productive enough that it remains very profitable despite the relatively higher wages paid to its employees.
Performance Appraisal system
The performance of the staff of the company is appraised using an appraisal template that objectively captures the performance of the staff on the basis of clearly earmarked indicators. The scores earned by the employees under the performance appraisal are used to determine their level of effectiveness at work. This aspect of the company’s culture contributes to its leaning towards the outcome- oriented
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