Thursday, March 11, 2010

John Lewis Payout to Staff

John Lewis may be a large chain but it's also a workers' coop. I've always wondered exactly how that works and still don't really know.

What was interesting was the news today that John Lewis made a large profit last year, proving that you don't have to be owned by a Mexican billionaire in order to make any money.

Just to nail home the point, that surplus is distributed to all its employees - amounting to a 'bonus' of two months wages. Two months! I bet there are 70,000 happy John Lewis workers right now.

I'm not saying John Lewis, which is 146 years old, is the model for a new society but surely it says something that a little bit of fairness can work out for everyone.


Silent Hunter said...

Well that all sounds fine and dandy until you realise that they pay their staff 'less' than the standard wage in the first place and rely on the bonus to make up the difference. Sometimes the staff win a little but most times they lose out.

"John Lewis; never knowingly underhand"

Jim Jepps said...

Thanks for Silent Hunter. Have you got a link or something on that? Ta!

David Cox said...

They paid better than the old CRS if memory serves. However the John Lewis Partnership doesn’t really get involved with the wider co-operative movement.

Anonymous said...

I've worked for the Partnership for a few years, and before that several other high street retailers. I've never been paid so well, and a quick poll of colleagues confirms the same. I work in Oxford St, and from friends that work for competitors I know we're above average. I'm talking about non management, we are front line shop floor workers. So if there is a competitor that can pay me more than I'm on now, I want to know about it! Never Knowingly Underpaid. ;)