Re: Competitor's Rates in Waterloo region

From
Elizabeth Sparrow <beth.sparrow@thekey.com>
To
Matt Vijayan <mvijayan@thekey.com>
CC
Timothy Thomas <tt@thekey.com>
Date
2023-04-18 16:00:49
Folder
INBOX
--0000000000003b751b05f9a1c41f Content-Type: text/plain; charset="UTF-8" Content-Transfer-Encoding: quoted-printable Thanks, sorry for the lengthy email, but felt several details were important to note. On Tue, Apr 18, 2023 at 3:53=E2=80=AFPM Matt Vijayan = wrote: > I agree. Good leadership, Beth. > > Best regards, > > Matt > > Matt Vijayan, B.Sc., MBA, CCPE > Director of Sales, Canada > *Please note my email has changed:* > mvijayan@TheKey.com > > TheKey.ca > [image: TheKey] > > > On Tue, Apr 18, 2023 at 3:48=E2=80=AFPM Timothy Thomas wr= ote: > >> Thanks for the heads up. Good work. >> >> On Tue, Apr 18, 2023 at 3:31=E2=80=AFPM Elizabeth Sparrow > beth.sparrow@thekey.com> wrote: >> >>> Hi Tim & Matt, >>> >>> Update on the Home Instead rate for Waterloo region. >>> >>> I hosted a lunch and learn with all the Chartwell sales consultants >>> today for my region today. (7 Properties + Regional) One RLC is the for= mer >>> Home Instead business development manager for Home Instead KW. She is s= till >>> well-connected to them, she started at Chartwell 4 months ago. During Q= &A >>> she asked about our rates and how we are positioned to competitors. >>> >>> First, THANK YOU again for approving $38 for referrals in Waterloo. If = I >>> quoted $40-45 today I would have had a major challenge and risked losin= g >>> all the Chartwell's in my region. After I quoted $38 for referrals. The= y >>> all respond that Home Instead is currently quoting $39 to all of them, = and >>> most competitors are quoting lower rates, we are one of the most expens= ive >>> at $38. They spoke about seeing the value TheKey bring but being >>> competitively priced is critical so that they can tell prospects that >>> although we are on the high end we are still competitive. >>> >>> On Mon, Apr 17, 2023 at 2:11 PM Timothy Thomas wrote: >>> >>>> Hi Beth and Matt, >>>> >>>> I understand your concerns and have also voiced mine as well to Chen >>>> and the executive team. >>>> >>>> Meera confirmed to me that we can onboard caregivers at an average rat= e >>>> of $19/hr therefore I'm willing to approve a rate of $38/hr from your >>>> referral sources. On the consumer lead front, we will hold the line at= $40 >>>> for the next two weeks and see how it goes. We'll be watching closely = and >>>> adjust if needed. >>>> >>>> Hope this helps. >>>> Tim >>>> >>>> >>>> On Mon, Apr 17, 2023 at 9:48=E2=80=AFAM Matt Vijayan >>>> wrote: >>>> >>>>> Hi Beth, >>>>> >>>>> Thank you for these useful insights. We have already talked about the >>>>> pricing for Waterloo. The pricing decision is not just based on compe= titive >>>>> rates but also on the caregiver wages; the corporate mandate is to hi= t at >>>>> least 50% gross margin. Keep Tim and I in the loop when you have a >>>>> situation where the pricing can impact winning the client. >>>>> >>>>> @Timothy Thomas In the competitive market analysis >>>>> from TheKey corporate, *Home Instead Waterloo* quoted $45 for complex >>>>> care and $40 for mar

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