profit sharing

(redirected from Gainsharing)
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  • noun

Words related to profit sharing

a system in which employees receive a share of the net profits of the business

References in periodicals archive ?
AMS specializes in the design, development and implementation of gainsharing programs for the health care industry.
OIG has issued several advisory opinions approving gainsharing arrangements between hospitals and identifiable groups of physicians.
In 2003, NJHA began working, in association with Applied Medical Software (AMS), and received HCFA approval to start a physician/hospital gainsharing model, but later was stopped due to HCFA not having the ability to waive all the necessary laws to implement the program.
RELATED ARTICLE: Gainsharing Arkansas Style Will Focus on Five Conditions
Other unionized companies find employees are open to substituting the bonuses they earn from an ongoing gainsharing plan for all or part of the guaranteed increases the union asks for in negotiations.
According to the Bureau of Labor Statistics, some variety of Gainsharing is being used by about 18 percent of manufacturing companies, the number increasing every year.
People operate under a team-based incentive program called gainsharing, and earn a percentage of the incremental profits they produce.
The second type is group plans that include profit sharing and gainsharing.
Farrell of Foley & Lardner in Tampa recently presented "Physician Gainsharing -- Past and Future" at the 2001 Health Care Industry Conference in Greensboro, North Carolina.
A gainsharing program he instituted in 1996 that returned a percentage of profits to employees was the most effective quality effort to date, not to mention the most popular.
Over the course of about a year, the company virtually eliminated job titles and introduced a gainsharing, performance-based compensation and stock option program.
businesses to adopt gainsharing as a means of productivity, yet its usage is far from universal (Markham et al.
Other terms allow for mutual agreement to modify the contract and successor contracts for "special local circumstances," such as to justify opening new mines or extending the working life of current mining operations; to adopt gainsharing based on operating results, which potentially could provide additional earnings of up to 20 percent of an employee's hourly wage rate; and to establish alternate work schedules, where appropriate, which would lead to increased employment without mandatory overtime.