Bolt's Driver Incentive Program
Bolt, the prominent ride-hailing company, is rolling out a driver incentive program offering a 15% commission kickback bonus. Drivers are required to complete five trips in a day to qualify for this bonus. The bonus kicks in from the sixth trip, granting them a 15% rebate on the commission paid for that trip and subsequent ones. To be eligible, drivers must maintain a 40% acceptance rate and a 55% completion rate for the five trips.
The company message states, 'Get 15% commission kickback bonus by driving five trips in a day with a 40% Acceptance Rate and 55% Completion Rate on all your trips.' This initiative aims to incentivize drivers by providing a financial reward based on their performance.
Struggles in Driver Retention
Bolt is facing challenges in retaining drivers on its platform amidst increasing competition from rivals. In a recent survey conducted among e-hailing drivers, Bolt emerged as the least preferred app compared to Uber and InDrive, receiving only 15.8% of the total votes. InDrive was the most favored app with 47.4% of votes, followed by Uber with 31.5%.
Drivers attribute Bolt's declining popularity to its 'acceptance rating' system, where a 40% acceptance rate is now the minimum to qualify for the commission kickback bonus. This move may further impact driver engagement on the platform.
Efforts to Retain Drivers
Bolt has been making efforts to strengthen its relationship with drivers. It recently organized a Drivers Novelty Match event themed 'Building a Stronger Community' to enhance the bond between the company and its drivers. Additionally, Bolt partnered with Advancly to offer short-term loans to drivers, aiming to support their financial needs and boost productivity.
However, these initiatives, while focused on building a loyal driver community, do not directly address the concerns raised by drivers regarding improved earnings. The company's strategy seems centered on fostering loyalty among drivers to maintain a strong driver base.
