Lincoln Electric's production workers are paid by the piece, and there is no minimum hourly wage. After working in the company for two years, employees can share the year-end bonus. The bonus system of the company has a set of calculation formulas, which comprehensively consider the gross profit of the company and the productivity and performance of employees. It can be said that it is the most favorable bonus system for workers in American manufacturing industry.
Headquartered in Cleveland, Lincoln Electric Company has annual sales of $4.4 billion and 2,400 employees, and has formed a unique method to motivate employees. 90% of the company's sales come from the production of arc welding equipment and auxiliary materials.