The incentive management system has been in place at Lincoln Electric since the early twentieth century. If employees do not come to work, they are not paid and they are penalized. They must guarantee the quality of each piece they produce. If the piece is not good, they are not paid for it. The company feels that all workers must manage and all managers must work.
Recognition includes several items diligently attended to by the company.
Promotion from within is combined with an open door policy. Employees who have performed outstanding work are invited to meet with the chairman and president of the company and participate on an employee advisory board. The board meets with the president and chairman on a bi-monthly basis to discuss topics that can help improve the company's operations and performance. The minutes of the meetings are published and posted so employees are well informed about company affairs. Lincoln Electric also has a quarter century club for employees who have been with the company for 25 years or more.