Aligning Interests with Clients

Aligning Interests with Clients

Offering partially performance-based contracts, Miya ensures that utilities feel secure with its target-focused approach. The PB framework demonstrates to clients that Miya is focuses on achieving the goals set for a particular city according to its budget and priorities.

As elaborated by Bahamas Water and Sewerage Corporation General Manager Glen Laville to the New York Times:

"One selling point was that 30 percent of the company’s fees would be based on performance. To earn those payments, Miya would have to bring the leakage down to 2.5 million gallons per day by year five, and to 2 million gallons per day by year seven – and the levels would have to be maintained for the duration of the contract. (Reductions below that level become cost prohibitive) … Last year, with two desalination facilities running at full capacity, we had to ration water. Within nine months of starting this project, we got to a point where we no longer had to ration the water. And we’re now at a point where we can tell the desalination plant to cut back on their supply."

Clients know that if targets are not achieved, they will not have to pay; Miya also has an incentive to over-achieve targets, which is highly beneficial to clients and their community.