Improving Performance Through "Gainsharing"

BOB FALCONER: Without further ado I'm going to introduce our first speaker, Walt Cook. Walt is president of Strata Resources and is here with his business partner Joe Nenni. Joe would you stand up here. You'll be on the tag-team with Walt. Walt and Joe are in a consulting business associated with coal as well as metal and nonmetal industries. Their presentation will be on gainsharing. WALTER COOK: How many of you have gainsharing plans in place currently at your location? [show of hands] A considerable number-more than about half the room. Of those plans, how many of them do you consider as meeting your needs and being successful? [show of hands, far fewer, general audience laughter] You have all at least heard the word "gainsharing." Some of you undoubtedly aren't quite sure what gainsharing is, while others obviously have gainsharing plans in place and are looking for ways to improve them. In the short time I have now I'll be able to give you a precursory look at gainsharing and some brief ideas on where to look to improve your current plans. Over the years, I've found that it is often best to explain gainsharing by comparing it to other forms of employee compensation