Pay Hikes Abound as Fleets Try to Retain Drivers
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Several fleets have announced pay and benefit increases for drivers as the industry keeps trying to address the driver shortage.
Driver turnover remains at extremely high levels– 90% at large truckload carriers, according to the latest American Trucking Associations report– and fleets are working hard to curb it. A recent report on operational costs shows that fleets currently spend more on driver wages and benefits combined than they do on fuel costs.
The push to retain drivers is evident in recent announcements from Boyd Bros. Transportation, Pride Transport, Roehl Transport, Hornady Transportation, A&R Logistics, Epes Transport System, Kenan Advantage Group, and Ozark Motor Lines. All of these fleets have focused on incentivizing drivers to sign and stay on board.
Boyd Bros. Transportation announced a 4-cent per mile pay increase for company drivers in September. The new pay package also includes a $900 per week pay guarantee.The increase is available to company drivers of all levels.
“Our drivers make much more than $900 per week,” stated Boyd Bros. CFO Dwight Bassett. “We just wanted to take away financial concerns so that drivers can focus on what they do best, drive. We are also eliminating the perceived risk that typically accompanies the start of a job with a new company.”
Pride Transport has implemented a new point-to-point pay program that pays drivers for the distance of the leg they drive and not just the total length of a load. Pay under the new program comes out to a higher per mile– up to 55 cents per mile, according to the company.
This program includes pay for deadhead miles at up to 20 cents more per mile than base pay. Company drivers at Pride Transport can also earn a $2,000 sign-on bonus, opportunities for safety and MPG bonuses, in-cab DirecTV, affordable …Read the rest of this story
