Empowered Employee Compensation Model
Description
Dwight B. Chestnut:
"the Empowered Employee Compensation Model or 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.
In an effort increase the aggregate standard of living, the Income Reengineering process idealizes an aggressive and systematic transition from the old “industrial age” workplace compensation infrastructure to compensation more representative of the evolving information age. The end result is the complete obsolescence of traditional hourly and salary based compensation infrastructure in lieu of ten (10) new income resources and benefits packaged under what is referred to as the Empowered Employee Compensation Model (EECM).
Next, consider the fact that the Empower Employee Compensation Model consist of the following income resources and benefits:
Primary Income Resources
- Productivity Based Compensation
- Ownership Equity
- Residual Income Equity Benefits
Supplemental Compensation/Benefits
- Salaries/Wages (temp to zero)
- Virtual Wages
- Virtual Dividends
- Virtual Bonds
- Virtual Stocks
- Private Retirement Plan
- Group Medical
Now, virtual wages, virtual dividends, virtual bonds and virtual stocks are referred to as the virtual income machines. The virtual income machines are conceptualized as large scale wealth building resources that will be delivered to the general public via the internet so that grassroots individuals can easily secure wealth building resources to pay down bills, build-up savings and generally build a financial foundation leading way from paycheck to paycheck dependence in lieu of working under the umbrella of the EECM.
Because of this wealth building solution, the virtual income machines represent the primary catalyst to making the Income Reengineering Process a reality. With this in mind, the virtual income machines are resources produced via large scale online peer production. In other words, online peer production is the catalyst to the virtual income machines and the virtual income machines are the catalyst to the Income Reengineering process." (http://www.empowernetwork.com/dchestnut/blog/peer-production/?id=dchestnut)