Setting your Bill Rate
When you register on HUGO, you will be asked to enter the hourly rate you intend to pay for the project. This is the hourly BILL RATE being budgeted for this assignment and the rate HUGO will ultimately bill you. The Bill Rate comprises of the Employee Pay Rate plus a markup. The markup includes costs we incur to attract, hire, and retain our employees like the payroll burden, employee benefits, recruiting, learning and development, and operational costs.
Employee Pay Rate
The Employee Pay Rate is the base hourly rate paid by RGP to the Consultant and is aligned to the comprehensive skill set of the Consultant, while taking into account competitive market conditions that allow us to work towards the goal of maximum utilization.
The HUGO Model allows for flexibility and freedom to choose the types of engagements for which candidates/Consultants want to work. While downtime is a factor, we want to keep our Consultants utilized as much as they want to be. Candidates/Consultants and clients have the ability to negotiate rates at the time of award. To learn more about this, please read our solution article on rate negotiation.
Payroll Burden
As HUGO Consultants’ employer of record, RGP assumes the burden of covering payroll taxes. Total payroll burden can be significant at more than 10 percent when you consider FICA, local, state, and federal unemployment insurance.
Benefits
Our Consultants also all receive full W-2 benefits, which includes insurance, disability, paid time off, 401k match, equity plan participation, professional development, and more.
Recruiting and Operational Costs
With over 25 years of experience curating highly qualified and vetted talent pools, our recruiting process has been refined to drive maximum value for our clients. In order to bring talented candidates to the table, we invest significantly in this process. Recruiting costs include things like advertising, management, training, administration, technology, and compliance.