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At times the best way to determine PSG performance is by client satisfaction. We directly tie a portion of our pay to how well we perform at satisfying our customer.
Below is an example of the way we worked out an agreement with a large federal agency in which our pay was based on their assessment of our work.
PSG Prices at FSA Are Based on Customer Satisfaction
At the Office of Federal Student Aid of the U.S. Department of Education, PSG placed a portion of its fee at risk based on the client's satisfaction with our performance and offered a money back guarantee.
We believe in putting our money where our mouth is. So, just as we help our clients solicit feedback from their customers and we help them hold their vendors to performance-based contracts, we think it is only fair for us to ask our clients to rate us on how satisfied they are with the results we have achieved for them, and for us to make our own contract fee contingent upon the client's satisfaction.
At FSA, this principle manifested itself in a performance pay provision that appears in virtually every contract we enter into with them. A PSG contract typically provides as follows:
"20% of the above payments will be withheld subject to the client's completion of the PSG Customer Satisfaction Survey. Using a scale of 1 (extremely dissatisfied) to 10 (extremely satisfied), PSG will receive 100% of the withheld performance pay if the average of the CSS ratings is 9-10; 80% of performance pay if the rating is 7-8; 60% if the rating is 5-6; and no performance pay if the rating is below a 5."
To find out how satisfied our FSA client is with the services it has received from PSG, we ask them to answer the following five questions:
- To what extent was PSG helpful in producing the RESULTS you desired?
- To what extent were you satisfied with the SERVICES PSG provided?
- To what extent did PSG meet your EXPECTATIONS?
- To what extent did PSG's services compare favorably to your IDEAL?
- To what extent would you RECOMMEND PSG to others?
We also offer a money back guarantee by providing for the following in our contracts:
"In addition, PSG offers FSA a money back guarantee. Simply stated, PSG only expects to be paid if the client is satisfied with the results PSG has produced. If, at any time or for any reason, the client is not satisfied with the results PSG produces, PSG expects to be notified in writing. If PSG cannot fix the issue to the client's satisfaction, PSG does not expect to be paid."
We find that it is these kinds of provisions that distinguishes PSG from our competition.
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