Today, we’re concluding a multi-part series on pay rates and bill rates in physical security. We analyzed pay rate and bill rate data from security guard firms across more than 12,000 client sites and 2,000,000 shifts to analyze the trends of physical security contract profit margins. see if there were any trends in pay Rates and bill Rates. The first two articles focused on understanding the various elements affecting pay rates and understanding competitive bill rates. Today we will talk about the Government Contract sector or GovCon.
We will be presenting our findings in more detail in a webinar with Security Magazine on March 31, 2020. Sign up today and get involved in the discussion.
Government Contracting: A Major Differentiator in Pay and Bill Rate Analysis
For any security firm that is familiar with the process of closing a government contract, they know that it is a lucrative source of new revenue for growing businesses for a few reasons:
- Consistency: government contracts are usually consistent and predictable business. You have a set contract and set schedules and you can rely on that business for consistent revenue.
- Longevity: Government contracts are typically long-term. Even a year-long contract can infuse more predictability within your operation in terms of revenue streams.
- Premiums: Government contractors are typically looking for specific training, specific certifications and licenses, and require officers that will require a higher salary rate. Because of this, you have the ability to mark up the bill rate.
The question becomes, “How much can you mark up your rates for GovCon?”The whole topic of GovCon as it relates to bill rates, pay rates and margins will be discussed on our webinar with Security Magazine on March 31, 2020.
Join Us for a Webinar on Pay Rates and Bill Rates In Security
Much of what has been covered in these past few articles is a part of a study we completed on common trends in Pay Rates and Bill Rates in physical security industry. We are planning to discuss these in detail in order to give companies insight into how you are pricing yourself in the market and how you compare to like-minded companies. Companies looking to get another toolset of information to see how they can improve their operations should join us on March 31, 2020 for our exclusive webinar on Pay Rates and Bill Rates. Sign up here, and we look forward to seeing you there!