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Market Rate Guidance
Sarah Murray avatar
Written by Sarah Murray
Updated over a week ago

What is Market Rate Guidance (MRG)?

Market rate guidance (MRG) is our latest feature that offers real-time information about hourly rates. This information helps employers establish the best hourly rate, enhancing the likelihood of a shift being successfully booked.

Using data on similar shifts in the area, our system estimates the average market rate at which shifts are being booked. Employers can then use this to help choose the rate they set to increase the chance of the shift being filled. This could be adjusting the shift rate up or down.

How is MRG Calculated?

Our system collates data from 50 similar booked shifts in the surrounding area. This data is only taken from similar active shifts (within the past 72 hours) to help guarantee the information is fresh and accurate. If our system is unable to find 50 similar shifts in the surrounding area then we will be unable to display any market rate guidance.

For enhanced accuracy our system excludes shifts occurring on significant dates, such as Christmas Day, to prevent anomalies in the data. Guidance for shifts occurring on significant dates is calculated separately using data from shifts set on that day and it is reduced to a pool of 15 shifts.

We have found employers that use this guidance have a 33% increase in shifts being filled at the advertised rate. MRG is for employers' information only, it is at the employer's discretion whether or not to use this information when setting the rate.

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