The Income Reengineering Vision states:
Eliminate paycheck to paycheck dependence on a large scale and shift employee thinking and focus away from just “earning a paycheck” to running their own business under the roof of employers with the support of employers. The resulting workplace compensation model is called the Empowered Employee Compensation Model or EECM (illustrated above). The EECM replaces hourly wages and salaries with ten (10) new income resources and benefits with the potential to usher in a 3-fold increase in the aggregate standard of living for both employees and employers
To dig into this, review the following sections.
Background Supporting the Income Reengineering Vision
Consider the following:
- When we seek to conduct economic research as with the Income Reengineering Initiative, we have to identify a vision to shoot for. More specifically, we have to identify the vision associated with the phrase: increasing the income, wealth and standard of living for the masses;
- In other words, what will this new income, wealth and standard of living for the masses look like, especially when you consider that the word masses means everyone who works for a living.
With this in mind, this vision offers the ideal solution to the question we ask in the initiative. For example:
- We are conducting research on how to improve the income, wealth and standard of living for the masses;
- Currently, the masses work a job and earn income in the form of hourly wages and salaries;
- Therefore, to improve the income, wealth and standard of living for the masses, the vision must offer a solution to transform the workplace as we know it for the better.
As you can see from the illustration above, the Income Reengineering meets the challenge by replacing hourly wages and salaries with 10 ten new income resources and benefits with the goal of ushering in a 3 fold increase in the aggregate income and standard of living.
Understanding the Income Reengineering Vision
The vision has two primary components: foundational and operational:
- Foundational: First we use the internet as a catalyst to structure business processes where people can get funds to pay down bills, build-up savings and generally build a financial foundation leading away from paycheck to paycheck dependence. We use a multitude of processes including the strategic allocation of crowdfunding dollars to help people accomplish this objective. The goal here is to help people position themselves to comfortably say: why work for mere wage or salary if I no longer have to?
- Operational: Once individuals have a solid financial foundation, people can show up for work as worker owners able to forgo hourly wages and salaries in lieu ownership based compensation in collaboration with employers. The end result is we replace hourly wages and salaries with 10 new income resources and benefits and usher in a 3 fold increase in the aggregate standard of living.
The end result for employees:
- When we combine the foundational and operational income resources and benefits, the average worker will have ten (10) income resources and benefits;
- The formal model is called the Empowered Employee Compensation Model (EECM). The term empowered employee means employees are financial empowered worker-owners as opposed to wage dependent employees as they are today;
- Given the workplace productivity and motivation that will naturally come with ownership, we anticipate a 3 fold increase in the aggregate income and standard of living.
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? This is especially true given that most traditional start up fail within 3 to 5 years;
- 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?
Again, WIN-WIN. Go to the Empowered Employee Compensation Model (EECM) to learn more regarding this vision. Also, review the Income Reengineering Process to see how we seek to bring the vision to life.