PROFIT-SHARING SCHEMES IN GREAT BRITAIN.

The article looks at the profit-sharing schemes in Great Britain. The aims of the proponents of profit-sharing schemes have changed little since its introduction in the 1840s. Profit-sharing is defined as instances in which an employer agrees with his employees that they are to receive a fixed share in the profits realized by the undertaking of the related profit-sharing scheme. Profits are given to employees in exchange for their labor, although they also receive wages. The International Congress on Profit-sharing was held in Paris in 1889, where they agreed upon the definition of profit-sharing that is generally used today. The plain fact is that each scheme has to be tailor-made to fit the circumstances of the particular firm which has to operate it.