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Enhancing HR Practices: Insights from Lincoln Electric's Success

This seminar presented by Lincoln Electric's HR Department, featuring Kensuke Ono and Yasuyuki Kaji, discusses key human resource policies and strategies that have driven the company's success since its founding in 1895. Participants will explore topics such as recruitment, employee loyalty, compensation packages, and performance evaluations. The discussion will revolve around implementing Lincoln's effective HR practices in other organizations and the potential benefits of fostering a positive workplace culture. Join us in examining how Lincoln Electric has maintained market leadership and employee satisfaction.

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Enhancing HR Practices: Insights from Lincoln Electric's Success

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Presentation Transcript

  1. Discussion Groups HP : Joyce, Jessica and George TI : Bea and Jeffrey Stewart Box: Lisa and David USPO: Amy and Darnell ABB: Elvira and Van

  2. Human Resource SeminarPresented by Lincoln Electric HR Department Kensuke Ono Yasuyuki Kaji

  3. Agenda • Company Background • Human Resource Policy • Recommendation • Discussion

  4. Company Background • Profile • Founded in 1895 by John C. Lincoln • 2,400 factory workers, 200 sales forces • Sales of $582 millions in 1989 • No debt until 1980 • Products • Arc-welding products (91%) • Others (9%)

  5. Company Characteristics • Market Share Leader • Never ended a year with overall loss • Best Quality Products with Low Cost • High Productivity • Strong Authority of Management • Employee Loyalty

  6. Lincoln’s Sales History

  7. Lincoln’s Attitude Customers Employees Stockholder 1 2 3

  8. Human Resource Policies • Recruitment and Selection • External Hiring: Only from entry level • Promotion within the organization • Job Security • No layoffs since the WWⅡ

  9. Compensation Package • Base pay: Market survey and Piece rates • Gain share program: EveryDec. (Average; $21,258 in 1988) Lincoln’s bonus plan was accepted in 1934

  10. Performance Evaluation Twice a year, based upon; 1) Quality 2) Dependability 3) Ideas and cooperation 4) Output

  11. Benefits Medical Plan Retirement Program Stock Ownership Vacation Employee association provides; Disability Insurance, social activities

  12. Lincoln’s Desirable Cycle Compensation Profit Motivation Productivity

  13. Recommendation Implement Lincoln’s Personnel Policies to Your Company

  14. Discussion Questions • Would your company follow LE? Why?

  15. Want to work for Lincoln?

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