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Post: Profit Sharing: The Key to Revitalizing Canada’s Productivity Post-Pandemic
Revitalizing Productivity in Canada: The Case for Profit Sharing
Canada’s productivity has reached a critical point—some senior officials have even called it a national emergency. From my own twenty years in industry, I’ve seen firsthand how profit sharing can completely change a workplace. When every employee has a real stake in the results, people stop thinking like “hourly workers” and start acting like owners, which is exactly the mindset shift this country needs.
The Impact of Profit Sharing
During my years in manufacturing, I learned that employees should work with you, not for you. In places where profit sharing was in place, that wasn’t just a slogan—it was real. Having a share in the profits created a genuine sense of ownership and responsibility. I knew that what I saved, what I wasted, and how hard I pushed directly affected my own earnings. That connection made me more committed, more loyal, and constantly focused on improving performance and efficiency.
Enhancing Employee Engagement Through Profit Sharing
Profit sharing is more than just an incentive—it’s a strategy for empowerment. Studies, including one by the National Bureau of Economic Research, confirm that profit sharing boosts productivity, enhances job satisfaction, and reduces turnover. By aligning employees’ successes with the company’s goals, businesses can foster a more engaged and motivated workforce.
Addressing Post-Pandemic Workplace Morale
The shift in workforce dynamics post-COVID-19, with the departure of seasoned workers and the influx of less experienced ones, poses additional challenges. Here, profit sharing can play a crucial role. It acts as a bridge, smoothing transitional periods by giving new employees a tangible stake in their new roles, which motivates them to learn and adapt quickly.
A Call to Action for Canadian Businesses
As businesses look to rebound and grow in the post-pandemic era, adopting a profit-sharing model could be key. It’s not just about enhancing productivity but also about rebuilding a collaborative and resilient work culture. This approach could redefine employee relationships with their work and with each other, ultimately driving the nation’s economic recovery.
Conclusion
We cannot follow the example set by major corporations like General Motors in the 1980s, who, despite being profitable, chose to abandon their employees and relocate operations to Mexico in pursuit of higher profits. Such actions underscore a prioritization of greed over loyalty to employees and the country.
Canada’s productivity emergency demands innovative solutions, and profit sharing presents a tried and tested route. My experience is a testament to its effectiveness. By investing in our employees as partners, we can rejuvenate the Canadian economy and elevate our collective prosperity. As long as we face no further black swan events, adopting this model should pave the way for a stable and productive future.
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About the Author: Bernard Aybout (Virii8)
