Article: Candidate-Driven Pay Rate Feature for Variable Take Rate Business Models

The addition of the candidate driven pay rate feature empowers clients and administrators to tailor pay rates to worker preferences, streamlining the payment process and enhancing overall efficiency.

The premise of this feature is simple yet powerful: when a client or administrator places an order, they have the autonomy to specify the amount they want the worker to see when notified about an opportunity.

Behind the scenes, the platform automatically adjusts the bill rate based on the specified pay rate, presenting clients with a comprehensive view of the total bill rate. This integration simplifies financial transactions and eliminates guesswork, allowing for smoother negotiations and decision-making.

Enabling this feature is a breeze. Simply navigate to the Configuration section and access the Business Model tab. Under the Variable Take Rate category, administrators can choose between two distinct options: Markup or Margin. You also need to change how the client bill rate gets calculated to ‘Job seeker driven.’

Choosing Markup entails calculating the variable percentage on top of the specified pay rate. This approach ensures that workers receive fair compensation while accounting for additional overhead costs and profit margins.

On the other hand, selecting Margin maintains the pay rate entered by the client or administrator, with the variable percentage calculated based on the client bill rate. This flexibility accommodates different pricing strategies and allows for granular control over profit margins

Markup/ Margin

How the bill rate gets calculated

As businesses navigate an increasingly competitive landscape, embracing innovative solutions like this one is essential for staying ahead of the curve. With this feature, you can optimize your processes, maximize efficiency, and unlock new opportunities for collaboration.