I want to show you how I want to do this first, and then I will explain why I want to do it as I believe it will be easier to understand that way.
Every year around May, the BLS OES section comes out with their latest Occupational Employment and Wage Estimates.
The one for May 2020 can be viewed by clicking here.
We are looking for the row titled All Occupations as shown here.
I want to tie our wages to 50% of the Mean Hourly Wage for our starting pay, and I want our maximum pay to max out at the Mean Hourly Wage.
This way the people we hire can afford to pay their bills, have a job that is meaningful, and that ultimately will allow them to provide for their families in their later years with a stable income that will take out the uncertainness in their lives that globalization has introduced where people are considered a disposable commodity.
By doing it this way, our entry level employees will have a salary of $541.40 per week and our senior level employees will have a salary of $1,082.80 per week.
At some point as we grow and are able to do so, we will also find a way to include employee benefits.
By incorporating as a 501 ( c ) ( 3 ), this will give us the ability to accept donations to grow, and we will be eligible for grants to help us grow whereas an employee owned corporation would not be eligible for either.
Our goal is to provide our employees with meaningful work and the stability of long term employment.
Should they find better paying work outside our nonprofit, we will encourage them to pursue it if that is what they want, and most importantly, let them know that we will hire them again if it turns out not to be all that they thought it would be.
We will seek revenue opportunities and be able to work for substantially lower costs by tying our billable rates to twice the hourly wage that we are paying to the employees that are working on the project.
As an example, if we have 1 senior level manager and 2 junior level employees working on a project, our billing rate would be $54.14 and $27.07 per hour for these employees which will offer the government projects we will seek a substantial savings as compared to profit based companies also bidding in the hundreds of dollars per hour per employee which should help us grow.
Most STEM workers have had substantial training in analyzing problems, so I feel that initially we should focus primarily on software systems and that we should focus on retraining the people we hire in the latest technology in software.
We can do that by developing our own in house training program.
We should also train them on the network side as well so that we can also bid on computer support projects as they come up.
An excellent source would be the Professor Messer series as shown here.
A good source of steady income would be to train our people in the electronic and software systems that are utilized in modern day vehicles.
If we decide to pursue this area, it would require us to purchase or lease commercial space to operate out of.
I mention this because not many will understand these systems like displaced STEM workers who are hungry to get back to work and willing to learn.