How to price field service work for independent contractors
April 1, 2019
April 1, 2019
Every job is different, and that means different jobs require different pricing models.
This poses a challenge: which payment structure should be used for which job?
There are four common pay structures for field service work:
With these options in mind, here are some things to think about when finding a pricing model fit for your project.
The technician is paid a predetermined rate that does not fluctuate. Businesses often use bonuses and penalties to encourage faster work (i.e. 10% bonus if the technician finishes in one hour, 10% penalty if they have to come back to fix it.)
Use cases & benefits:
Instead of predetermining the final pay, businesses predetermine an hourly rate. Unlike the fixed structure, total pay depends on how long the work takes to complete.
Use cases & benefits:
Technicians are paid per device serviced. Pay per device is predetermined based on scope of work.
Use cases & benefits:
A fixed-rate for a predetermined set of hours, plus an additional hourly rate if the job goes over the predicted time.
Use cases & benefits:
To access skilled resources across the U.S. and Canada, turn to thousands of pre-vetted technicians on the Field Nation platform with skill sets across 20+ service types. Pay technicians based on a fixed, hourly, per-device, or blended rate. With Field Nation Basic, you’ll be able to see pricing suggestions for on-demand labor, and with Field Nation Premier, you can leverage our MarketSmart™ Insights tool to access real-time pricing data from 3 million+ field service jobs to create competitive bids on your next RFP.
RELATED RESOURCES
Blog
As technology advances and business needs evolve, the audio-visual (AV) industry is experiencing rapid growth. For field service companies, staying ahead of industry trends is crucial for maintaining a competitive edge and meeting customer demands. Here are four key AV trends to watch.
BlogBlog
Discover how service companies can leverage the projected growth in the global security services market by incorporating security camera backup solutions. Learn the benefits of offering robust backup systems to enhance data integrity, client trust, regulatory compliance, and competitive advantage.
BlogBlog
The booming security market is driving demand for equipment installation and maintenance. Discover strategies to overcome labor shortages and licensing challenges by adopting a diversified labor mix.
Blog