FAQ
I’m a super earner, why should I open my pay?
I’m an earner, why should I open my pay?
I run a company, why should I let my people participate?
What do you mean by influence?
How do you track influence automatically?
Won’t people try to game the system?
What part of my year would I want to share?
How do I maintain my privacy when my communications are embedded in the years of other people?
How is the wealth actually spread?
Where do you get the money to pay out the 2%?
What will I need for sign up when Open Pay is ready?
I’m a super earner, why should I open my pay?
You gain a competitive advantage over your closed pay competitors by attracting deliberate, high quality influence from earners from all over the world to help with your agenda. You build a reputation for fair play that makes team building and recruiting easier. People know you walk the talk of pay for performance. You share your prosperity, so others share their prosperity with you. Together, we make the world better by reducing extreme inequality.
I’m an earner, why should I open my pay?
All the reasons why it makes sense for super earners, apply to you to. But, you’re also at higher risk of being underpaid. Open Pay gives you an easy way to link your prosperity to super earners when you influence them, and to other earners like you. Like a pro-athlete, you can showcase what you do during your year to fans to increase your influence opportunities and earning potential.
I run a company, why should I let my people participate?
When you allow your people to open their pay with Openyear, you enable:
SEARCHING: You can search your people’s years like you now do the web. This enhances meritocracy and brings performance reviews to life. You have total control over who sees your data. You can choose to host your own data within your firewall, or let us host it for free.
LEARNING: They’re more smart people outside your company than inside. Your people will now attract quality and deliberate influence from all quarters, which helps accelerate learning and execution within your organization.
FORECASTING: Traditional accounting tends to speak to where value was. Understanding the influence trends within your organization speaks to where your people believe value will be.
COST REDUCTIONS: Your company can subscribe to premium services that help you create higher quality work products at a lower cost, analyze your influence trends to see how they’re driving results, reduce your risk of hiring the wrong person, reduce your recruiting costs by enabling just-in-time precision hiring.
| What do you mean by influence?
inâ‹…fluâ‹…ence [in-floo-uhns] The action or process of producing effects on the actions, behavior, opinions, etc., of another or others. Our goal is to come as close as possible to tracking influence as it’s defined in the dictionary. Initially, we’ll be tracking a subset of general influence we call keyword influence. Keywords are the kinds of words you enter into search engines like Google, that convey “who”, “what”, “when” and “where”.
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| How do you track influence automatically?
When you give us permission to see into your year through listeners that you download to your laptop, smart phone, or other personal digital device, and the people who read what you write or listen to what you say do also, we can take an influence measure based on what everyone is doing relative to one another, just like sports statisticians track assists in most team sports.
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Won’t people try to game the system?
It’s possible to game any system. But, doing so will result in low reputation scores which will be made public, allowing others to make a judgment as to whether or not to deal with them. Also keep in mind that work itself is the biggest game of all. It’s potentially subject to favoritism, politics, professional-credit takers and so on. We spend more time at work than with our families. We believe the introduction of a cross-company standard for influence will reduce the NET level of gaming at work.
What part of my year would I want to share ?
You may wish to open the portion of your year that you spend on the public internet to the public. You may wish to open portions of your year that may be of interest to people in your same occupation, or to target the sharing of sensitive parts of your year to trusted partners or investors. When you open your year, you make it searchable. The more you open your year, the more influence and earning opportunities you create.
How do I maintain my privacy when my communications are embedded in the years of other people?
You and your company will have complete, granular control over your privacy. If you never want your communications showing up in anyone else’s year, this can be accomplished with a click. Alternately, you can selectively include or exclude based on the communication itself, or the parties involved. It’s your data. You can always delete any or all of your year at any time.
How is the wealth actually spread?
If you’re an earner who opens your pay with Openyear, we’ll contribute 2% of your salary to pay people who influence you; earned hourly for every hour of your year that you allow us to see. This makes the community positive-sum, on average, and allows you to share your wealth at the 2% participation level, courtesy of Openyear, with people that influence you.
Among the people that you influence will be other earners and super earners participating above the default 2% level. So, for example, your super earner CEO may participate at the 10% level. Were you to influence him, you could only earn based on 2% of his salary. But, if you or your company matched Openyear’s 2% with 2% of your own, you could earn based on 4% (2% + 2%) of his salary. What goes around comes around. Prosperity reciprocity drives how we share the wealth.
Where do you get the money to pay out the 2%?
Revenue streams from premium services sold to companies and tax-deductible contributions from super earners will be passed directly through to the community to fund the 2%. We earn our money by charging a small percentage fee whenever you receive a payment.
What will I need for sign up when Open Pay is ready?
Signup will be similar to Facebook, LinkedIn or other soical networks. If you’re already using Facebook or LinkedIn, much of what we’ll need is already there. Additionally, we’ll need bank account information to pay you.