This service company has taken the idea of interest to a conceptual level that I have not yet seen in the U.S. industry. The company has distributed $547 million in profit sharing over the past four years, more than in the past 21 years. They implemented the idea as a central part of how the company organizes its business and manages its employees. In addition, the system is unique in the way it encourages employees to effectively participate in the organization of their employees` work and to provide passive income to their employees. As service jobs continue to dominate the U.S. economy, the time has come to look at approaches to service incentives and reflect on their impact on the future of service management. At a time when wages are low, we need to look at some interesting examples. What impact will this have on Corporate America? Studies show that such forms of shared capitalism tend to increase individual performance and engagement. We hear a lot about education, skills and technology.
Keller Williams` White paper on profit sharing says the concept is the glue of a company that advances education and offers its employees innovative high-tech solutions. It is interesting to note that the company is increasingly identifying itself as a technology company. The ability of Keller Williams employees to collect lifetime passive income from interest also reminds me of a form of basic income. Here is an example of a technology platform that, for some of its retired workers, generates future profits based on profit shares. There are few service employees in the United States who participate in this type of large-scale wealth training system. Is this not only a possible model for employment in the service sector, but also a model for the introduction of robots into American industry in the future? Could current employees in U.S. manufacturing earn passive living income for the robots they design and install? Inflation-adjusted wages are expected to remain relatively low in the United States for the foreseeable future. It`s time for U.S. business and economic schools to wake up from their deep stupor and look at a whole range of capital equity systems right under their noses. Real models like Keller Williams are worth studying, understanding and improving. There is a large conglomerate in Spain called Mondragon Corporation, a network of workers` enterprises with its own bank, its own university and training institution, and its own head office, which supports member companies.