Why Quick Payments Matter in the Gig Economy

2 min read

The gig economy has created enormous potential for individuals. For some, it offers new career opportunities.  Others use it to supplement their income. Both flexibility and income potential are great appeals to prospective gig workers.

Opportunity in itself is only so attractive. The costs, requirements, and terms of work and payment are also important criteria. For workers, speed to payment is an essential factor to consider.  For many gig jobs, payment terms range from 30-60 days from the time that work is completed. This places a burden on gig workers, as they have to ensure they have enough cash to manage gaps between payments.dennis b field nation service provider payment quote

In some instances, companies will offer services that allow a worker to receive their payments faster. There is a cost associated with this service that is usually passed down to the worker and removed from their payment. That cost places gig workers in a precarious position.  Either wait for 30 to 60 days or reduce your payment to receive the funds quickly. Given all the costs the contractor is already assuming, an additional fee further reduces the profitability of gig work.

 

Eliminating the payment gap

We believe in making it easy for technicians to say yes to work by eliminating as many barriers as possible.  That’s why we’ve invested in a payment model that pays workers within days of completing the work order. On average, we pay approved work orders within five days, and most work orders are paid within three. Our technicians have confidence they will be paid promptly once the job is completed and approved, giving them the security they need to bid and accept more work.  This gives our clients access to a larger, more skilled talent pool. Everybody wins.

 

Transparent pricing providers can trust

In addition to payment terms, we’ve also invested in a pricing model that provides transparency to all parties.  Our service providers pay Field Nation 10% of the total work order value up to $1000. For work orders valued over $1000, we reduce the fee to 8%.

We also offer several value-added services to allow technicians to say yes to more projects, including insurance and completing background checks.  Additional information on these services and their costs are available on our pricing page.

For over ten years, we’ve invested in transparency, opportunity, and simplicity to make it easier for workers to connect with work.  Our pricing and payment model are essential components of that promise.