Describe the key goals of profit-sharing plans.

In profit-sharing plans, employers pay, or make available to defined groups of employees, special current or deferred sums based on the organization's profits.
Profit-sharing plans are intended to give employees the opportunity to increase their earnings by sharing in the profits of the firm; in this way, employees contribute to the growth of their organization's profits. These contributions may be directed toward improving product quality, reducing operating costs, improving work methods, and building goodwill rather than just increasing rates of production.
Profit sharing can help stimulate employees to think and feel more like partners in the enterprise and thus concern themselves with the welfare of the organization as a whole. Its purpose therefore is to motivate a total commitment from employees rather than simply to have them contribute in specific areas.