The Best Incentive Pay Plans for Techs
Pay plans for tech can be tricky, the main focus is on technician compensation and the preferred pay plans among hourly, flat rate, and hourly plus incentive bonuses. The insights were gathered from feedback received from professional responses. The results revealed a clear preference, with over three-quarters of respondents favoring the hourly plus incentive pay plans for techs structure. On LinkedIn, 15% leaned towards hourly, 74% preferred hourly plus incentive, and 10% favored flat rate.
The video highlighted the reasons behind the popularity of hourly plus incentive pay among technicians, citing the sense of security and assurance it provides, especially during slower work periods. Conversely, shops might opt for the flat rate pay model to mitigate risk. The discussion delved into the nuanced perspectives on a flat rate, with some technicians appreciating it while others leaned towards hourly plus incentive for reasons like fair compensation for teaching time or productive hours.
The importance of tangible, motivating, and meaningful incentives was emphasized, with a cautionary note for shops to ensure accurate billing to prevent negative impacts on technicians. Additionally, the episode touched on the upcoming conferences dedicated to technician compensation and the ongoing industry debate about who should provide the necessary tools for repairs.
