GCMS is implementing an incentive program targeting independent contractors to connect with new business opportunities. This program will generously reward a finder’s fee to any person that leads to a signed contract. In addition to a guaranteed payout based on the total revenue, qualified individuals may choose to work for GCMS on that project.
GCMS INCENTIVE PROGRAM PAYOUT
|Tiers||Revenue||Revenue % paid out as an incentive||Examples in Revenue||Incentive Payout|
|Tier 1||$10K to 100K||10%||$65,000.00||$6,500|
|Tier 2||$101K to 250K||7.50%||$225,000.00||$16,875|
|Tier 3||$251K to 750K||5%||$600,000.00||$30,000|
|Tier 4||$750 and up||2.50%||$1,500,000.00||$37,500|
Finder: The individual that has connected GCMS and the potential client for a project contract.
Initial incentive payment: This is the good faith payment that will be paid to the finder immediately once the project work starts on site. This will be deducted from the total incentive fee
Total Incentive Fee: This is the finder’s fee that is a payment that will be made to the “Finder” upon total project closeout and will be determined by the total net profit of the project.
Qualified Person: This refers to the individual that will be slated to perform the duties on a project. This individual must have an updated resume or CV and demonstrate that they have the experience and the knowledge to perform required duties and conduct themselves in a professional manner. Qualified persons also need to have the ability to thoroughly report verbally and written with GCMS and the client.
Client/Customer: Refers to the person or company that a contract agreement is in place and signed. Until this is achieved, they are referred to as “potential clients/customers.”
The Finder discovers an upcoming project at a plant he/she has worked independently for, has a relationship with owner/management and knows of an upcoming inspection or maintenance. The Finder comes to GCMS with the lead and facilitates an introduction. The Finder will receive an “initial incentive payment” payable when the project starts, which will be deducted from the total recognized payment of the percentage of the total revenue of the awarded contract. If the Finder is a qualified person to work on a project (inspection, repair, etc.) they may be offered to work with GCMS for the duration of the project if the client approves. Regardless of whether the Finder works on a project or not, they will receive the finder’s fee. After completion of the project, GCMS pays the remainder of the finder’s fee as agreed upon in the Finder’s Fee Agreement.
Q & A
- In the event of a force majeure or an unforeseen project shut down, what will the Finder get paid?
If the project has started and an unforeseen event happens such as force Majeure or the client suddenly halts the project, then the finder will still be allowed to retain the initial good faith payment and will be entitled to the recognized net profit. In this case, the good faith payment will still be deducted total incentive payout.
- If the Finder is not working on the project, the client does not want the individual onsite, or the Finder must be removed, is the Finder still entitled to the Finder’s Fee?
The Finder may be offered the position for the project that they bring to GCMS if they are qualified. The Finder has the option without penalty to decline the position and retain the full incentive fee for that project. If the Finder chooses to accept consideration for the position it will be the determination of GCMS if that person is qualified for that project role. If the Finder is qualified and GCMS determines a good fit for hire. The customer/client can prevent the hire of an individual for any reason. GCMS must get approval from the client for prospective hires and have no control over the client’s decision. If the “Finder” shows to be qualified and accepts the offer, once the project work starts on-site, meaning once the “finder” arrives at the site then an estimated down payment of the incentive will be paid out to the Finder. This amount will be determined based on the revenue. If the case arises that the finder is removed from the site involuntary then the Finder will still be entitled to the incentive payment in full upon total project closeout. If the Finder voluntarily leaves the project without reasonable cause, then the finder forfeits all further payment of the incentive. He or she will only be entitled to payment for hours worked.
- How is the initial incentive payment amount calculated?
GCMS will estimate the total revenue of the project, then pay a percentage of the Finder’s Fee based on the tier to the Finder as the initial incentive payment. For example, a $65,000 estimated profit margin (Tier 1) will payout 10% at a total of $6,500. The initial incentive payment will be 10% of the total payment at $650. The final payment of the Finder’s Fee will be $5,850.
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