The Income Reengineering Initiative is a conceptual arm of the Income Reengineering Process. It establishes the play by play hypothetical as to how we plan to use the internet and information technology to broker the transition leading the workforce away for the old, industrial wage-based compensation model to the proposed Empowered Employee Compensation Model (EECM).
Start by considering the Income Reengineering Principle:
Income Reengineering Principle: Information technology can only translate into individual financial empowerment and wealth for the masses when the masses learn how to use new information technology and connective tools to interact and collaborate professionally with each other outside of the bounds of traditional employment and in ways that is financially empowering to all participating individuals. Over time, this empowerment will find its way into the mainstream workplace as financially empowered employees are willing and financially able to forgo hourly wages and salaries in lieu of more lucrative productivity and ownership based compensation. This is how the Empowered Employee Compensation Model (EECM) will evolve or similar model representing worker empowerment in the workplace.
Here’s the play by play on how this principles comes alive:
- Play #1: We build an online system or network where people can interact and collaborate professionally on business projects part time online (i.e. outside of the bounds of traditional employment as noted in Income Reengineering Principle). Every one can participate part time as an entrepreneur, independent contractor or independent consultant. People work within their field of expertise, career field or field of professional interest, no marketing or selling required. Just show up for work online. By participating, people earn immediate income while building ownership equity and residual income through co-ownership relationships;
- Play #2: Given the income producing and wealth building benefits, we encourage general and business public to learn about this new online system and participate and earn part time;
- Play #3: As people participate and earn, we encourage people to pay down bills, build-up savings and generally build a financial foundation leading away from paycheck to paycheck dependence. This is especially true given that people build wealth through the ownership and residual income benefits by working online part time;
- Play #4: As people build a strong financial foundation, many will eventually say why work for a mere wage if I no longer have to. When this happens, many will seek full time employment where they can earn income in form of ownership and residual income based compensation, similar to the online system;
- Play #5: As the online system expands and millions complete Play #1 thru Play #4, at some point, mainstream companies and corporations will find it hard to find workers stilling willing for a mere hourly wage or salary;
- Play #6: As a consequence, companies will aggressively consider integrating similar wealth focus compensation into the workplace. This will be a WIN-WIN for both employees and companies:
- Individuals/Employees: What better way to convert your workplace skills, education and work experience into a profitable business than to do it within a comfortable 8 to 5 environment using the facilities, assets and business relationships of an established company or corporation?;
- Companies/Employers: What company, corporation or employer wouldn’t welcome the notion of having highly motivated and productive employees who are willing and financially able to work independent of an hourly wage or salary in lieu of a pay structure tied to real time productivity, results and a percentage of company profits. This is especially true considering that fixed payrolls often represent over 60% of operating expenses?
The key to making Play #1 thru #6 work is to use the internet to harness a large and constantly expanding group of people who are willing to support the Income Reengineering Initiative as required to make work:
If a large number of people come together over the internet to carryout this Income Reengineering Initiative, then that group of people can direct significant economic power toward accomplishing that initiative without needing the help of corporations, bank, financial institutions or the government.
You can see this with Play #1 thru #5 where there are no companies or corporations involved. It’s all about bring people together over the internet, run the necessary business plans and carryout Play #1 thru #5. The video clips below may offer a little more insight:
All of this being said, obviously, this Play by Play is a broad stroke hypothetical that has to be put into practice, field tested, researched, modified and changed as required to either prove or disapprove it’s feasibility, which is the essence of the economic research associated with the Income Reengineering Process. The bottom line: This Income Reengineering Initiative and researching and evaluating the feasibility of this play by play hypothetical addresses the core questions regarding research behind Income Reengineering: how to apply the internet and information technology to dramatically improve the standard of living for the average worker.