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With the trucking industry facing driver shortages, it has caused many companies to reflect on what other companies are doing to address this issue.
Signing Bonuses
Companies are offering experienced drivers (one year plus) anywhere from $2000 to $10,000 bonuses.
Base Pay
Truck drivers are being offered $0.50 and up as base pay.
Pay Increases
Drivers at all experienced levels can receive pay raises with as little as three months experience (a $0.02 per mile raise) up to those with two years or more experience (a $0.05 per mile raise).
Lifestyle Enhancements
Some companies are allowing their drivers to bring along riders and pets, offer in-cab DirecTV, and/or guarantee they will be home 3 of every 4 weekends. Performance Bonuses Pay is being offered at some companies if a driver achieves certain safety, fuel-economy, miles driven and/or on-time delivery KPIs.
Benefits
Several benefit options are being offered to the drivers including low cost medical, dental, life, and disability insurance. 401K with company match, direct deposit, paid weigh station bypass and tolls, profit sharing, and/or paid vacations are also being made available.
Referral Bonuses
Drivers are being offered referral bonuses if they can encourage their experienced friends to join the team.
In summary, the driver shortage will definitely help boost the driver compensation but trucking companies need to also adjust to the current realities of what it takes to hire good experienced drivers.
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