2006 profit sharing at Hypertherm sets company record.A record annual sharing of profits to company associates was distributed by Hypertherm, Inc., Hanover, NH. A total of $11.8 million was given to 741 eligible associates in 2006, an amount equivalent to 35 percent of each associate's base salary. Richard W. Couch A couch, loveseat, sofa, settee, lounge, davenport or chesterfield are items of furniture for the comfortable seating of more than one person. Compare the joiner's settle, with its separate seat cushions. , Jr., CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , attributed this record payout pay·out n. 1. The act or an instance of paying out. 2. A percentage of corporate earnings that is paid as dividends to shareholders. to outstanding business results in 2006, fueled by a combination of sales growth, strong discipline, and continuous improvement in the company's operations. Hypertherm manufactures high-temperature metal cutting products such as plasma- and laser-cutting equipment. Couch said profit sharing profit sharing, arrangement by which employees receive, in addition to their wages, a share of the net profits of a business. The purpose is to give them an incentive to increase their output through enhanced morale, less wasteful use of materials, better care of at Hypertherm is part of the company's long-standing philosophy of shared rewards. The profit sharing program payout has averaged nearly 24 percent of eligible associate base salary during the past ten years. The shared rewards philosophy is also embodied em·bod·y tr.v. em·bod·ied, em·bod·y·ing, em·bod·ies 1. To give a bodily form to; incarnate. 2. To represent in bodily or material form: in Hypertherm's associate stock ownership plan initiated in 2001, by which 30 percent of the company's outstanding shares are distributed at no cost to company associates. These and other associate-focused programs have earned the company recognition by publications ranging from HR Magazine to Fortune as a "best company to work for." |
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