For starters, we the use the following definition for worker cooperatives as established by the United States Federation of Worker Co-operatives:
Worker cooperatives are business entities that are owned and controlled by their members, the people who work in them. All cooperatives operate in accordance with the Cooperative Principles and Values. The two central characteristics of worker cooperatives are: (1) worker-members invest in and own the business together, and it distributes surplus to them and (2) decision-making is democratic, adhering to the general principle of one member-one vote.
Next, to get a feel for Income Reengineering, let’s review the definition of the Income Reengineering Vision and the Income Reengineering Process:
Income Reengineering Vision
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 (EECM). 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.
The Income Reengineering Process
The Income Reengineering Process is the real time, collaborative and interactive economic research into how to apply the internet and other information technology to aggressively and systematically integrate entrepreneurship and wealth focused principles, processes and compensation models into the mainstream workplace to the point where we make the Income Reengineering Vision a reality in the mainstream workplace.
As you can see, the Income Reengineering processes and long term vision is designed to convert the mainstream workplace into entrepreneurial focused worker cooperative where employers collaborate with employer under mutual beneficial arrangements with the objective of increasing the aggregate standard of living 3-folder. In other words, worker cooperative on a large scale.
How to make sense of the Income Reengineering Process/Vision
First of all, the Income Reengineering Process is economic research. Now, as with any research campaign, scientific or otherwise, we start off with a premise or assumption. Then, the goal of the research is to either prove or disprove the premise/assumption.
With this in mind, the details associated with the Income Reengineering Process is wrapped around 4 primary premises/assumptions. Let’s refer to these premise/assumptions as Play #1, #2, #3 and $4.
- Play #1: First of all, we promote and teach the details associated with the Income Reengineering vision to the general and business public. By doing so, we create dialog, online discussions and ultimately get buyin to the vision, especially once people understand how and why this vision can increase the average standard of living 3 times over.
- Play #2: As we get large scale buyin, we launch large scale peer to peer collaboration and co-creation campaigns where we encourage a large number of people to use social technologies to collaborate, create and crowdfund the formation of new co-owned or worker owner enterprises that operate 100% online. These new enterprise will be accessible to anyone with an internet connection and willing to work online part time within their field of expertise or area of personal interest. By doing so, they earn 3 ownership based compensation: productivity based compensation (fee for service), ownership equity (you own a percentage of the enterprise) and the residual income equity benefit (residual income linked to every product or service sold by the enterprise.
- Play #3: As people earn income, build ownership equity and generally build wealth online part time, many will use that income to paydown bills, build-up savings and generally build a financial foundation leading away from paycheck to paycheck dependence. This premise/assumption is based on the fact that, as people are exposured new income production, ownership and wealth building options online part time, many will seek to duplicate this ownership and wealth in their day jobs. This will lead to people using the online peer to peer collaboration and co-creation system to collaborate and form new, full time co-owned enterprise, especially since the system will crowdfund their efforts.
- Play #4: After years of running Play #3 and creating thousands upon thousands, eventually millions of new full time co-owned enterprises, traditional companies and corporations will find it hard to attract and keep qualified employees still willing to work for a mere hourly wage or salary. This is when this Income reengineering phenomenon goes mainstream and corporations large and scale are strongly incentived to convert their workplace into a co-owned enterprise in mutual benefit with their employees.
Obviously, there are plenty of details to unpack in Play #1 thru #4, but this is essence of the Income Reengineering Process.
Income Reengineering is currently in it’s infancy, so this is all vision, concept and theory at this point. Of course, the purpose of this economic research is to prove or disprove the validity of this vision, concept and theory and this economic research campaign in starting. To learn more and dig deeper, start with this blog post.