UC Earnings Index (H1 2022) | Urban Company Partners Benefit From Steady Earnings, And Wealth Creation And Insurance Instruments
By Urban Company
2 min read
Oct 13, 2023
One of our primary pillars under the Partner Enablement framework is improved earnings. And, we are glad to share that in H1 2022 too we have continued to perform well ...
One of our primary pillars under the Partner Enablement framework is
improved earnings
. And, we are glad to share that in H1 2022 too we have continued to perform well on this parameter.
Highlights
• Top 20% UC partners earned an average of about INR 38,000 per month, net of commissions, fees, product costs and travel costs.
• UC Partners who completed >30 orders in a month earned over INR 31,000 per month.
• Introduced first-of-its-kind partner stock ownership plan
• Rolled out health insurance for all Urban Company partners
Urban Company Earnings Index for H1 2022
The top 20% earned an average of INR 38,007 per month whereas partners completing >30 orders in a month earned INR 31,134 per month.
Urban Company partners across the platform earned an average of INR 22,765 per month, net of commissions, fees, product costs and travel costs. These average earnings of all partners were up ~4% from the OND 21 earnings.
To further break it down, hourly earnings for UC partners were at an average of INR 302 (~2% up from INR 297 per hour in the OND ’21 quarter).
Factors that contributed to the increase in earnings:
1.
Rapid growth in business
: As the country moved out of the COVID-19 shadows and entered the summer season, our platform grew at a really fast pace. As the summers peaked, we saw strong growth on the back of demand for AC and appliance repairs services.
2.
No monetary penalties:
Last year, we had reduced monetary penalties to a maximum of INR 1,500 per month as part of our
12-point program; however, we have now completely stopped levying all types of monetary penalties on partners.
3.
Automated guardrails:
We introduced automated guardrails to maintain balance between demand and supply. This measure ensured steady earnings at the partner level.
Table 1: Net earnings for all Urban Company partners in India for H1 CY 2022
Apart from this, we introduced a slew of initiatives for our partners:
1.
Partner Stock Ownership Plan (PSOP):
We introduced a first-of-its-kind
PSOP programto award stocks worth INR 150 Cr. to thousands of service partners over the next 5–7 years.
2.
Health insurance for all partners:
We announced a
health insurance program for all service partnersin India in partnership with Acko. The health insurance provides a cover of INR 1 lac, with up to 12 free medical consultations per year for self, along with the existing benefits of the Group Life and Accidental Insurance cover. For top-performing partners, the policy will also provide family medical insurance for spouse and two children and up to 12 free medical consultations per year, besides the existing benefits of Group Life and Accidental Insurance.
3.
Conducted 3,000+ hours of health & safety workshops:
We collaborated with Max Healthcare, Apollo Spectra, Project Baala and Project StepOne to conduct pan-India virtual health and safety workshops for all partners. We also conducted gender sensitization workshops for partners in collaboration with Manas Foundation, a Delhi-based NGO.
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