DRIVER WAGES ARE A TOP FACTOR IN RETENTION
Surprise! A recent WorkHound study finds that compensation is an important factor in keeping drivers on the job. But it isn’t just the amount that matters. Both clarity regarding salary structure and avoiding paycheck errors are supremely important if you want to avoid frustration among your crew.
Another big topic was bonuses. Namely, transparency on when (or if) bonuses are coming. WorkHound notes that if drivers are so reliant on bonuses, it may indicate underlying problems in compensation rates and structure.
The main takeaway here is that communication, supported by NTI benchmarking, is key. Wage structures with built-in guarantees go a long way to alleviate some of our drivers’ biggest concerns, especially when it comes to circumstances outside of their control (think weather, breakdowns, shipper, or consignee delays). If you offer a model that addresses any of these common complaints, promoting it (both internally and externally) will help your company recruit and retain drivers this year.
As NTI President Leah Shaver explains, ‘Transparency in pay and schedule is something you’ve heard from us since 2015. Incorporating concepts like guaranteed pay, salary pay, hybrid mileage, and hourly pay…Any of these things that your company offers should be promoted to help you stand out.’
NTI benchmarking has backed critical decision-making for 26 years. Understanding where your employment package is most competitive, adjusting proactively, and re-marketing strategically is what will help keep your drivers in the seat, and that is a WIN.