If your platform is configured to the “Variable Take Rate” business model, the bill rate can dynamically adapt based on the pay rate for that candidate, if a custom pay rate had been set for any given worker.
What this means is that, if a candidate’s pay rate has been increased, the platform would automatically adjust the client’s bill rate to reflect the change in that candidate’s pay rate, if configured, so that your company is still taking the same % margin.
There are three configuration options to choose from:
Client- If set to client, the order budget is what the client will be billed for and the candidate pay rate will be calculated as the % of that rate. If the candidate has a higher custom pay rate, your team would take a lower %.
Jobseeker- If set to jobseeker, then the pay rate is what determines how much the client gets billed. So, if the candidate has a higher custom pay rate, your team is still taking the same %.
Adaptive- In adaptive payment configuration, if the pay rate determined by the budget of the order is higher than the custom pay rate, the higher pay rate would be used.
Example:
With the client driven configuration, If a client’s bill rate was $50 and your take rate is 10%, that would mean the candidate’s pay rate would be $45. And the client would be billed based on this budget.
However, If set to job seeker driven configuration, and a candidate has a custom pay rate of $50, the bill rate will adjust the 10% take rate which would increase the client’s bill rate to $ 55.55.
And with the adaptive configuration, whichever yields the highest pay rate, whether the custom pay rate that was previously set for the candidate or the order budget pay rate, the higher of the two is what gets billed to the client which would mean for this example, the client would get billed the $55.55 instead of $50.
To add any of these configurations, please contact a member of the WOLF team.