Driver Pay Rising as Large Carriers Open Their Wallets
(May 16, 2018)
- Recruiters are working to keep pace as carriers continue to increase compensation as a way of attracting and retaining drivers, a new survey found. According to the quarterly Trends in Truckload Recruitment and Retention survey from background screening services provider Driver iQ, 72% of recruiters predicted that driver compensation will increase in the second quarter, while 28% said it will remain the same. None believes that compensation will drop, a reversal from the fourth quarter of 2017, when more than 40% of recruiters expected driver compensation to fall, Driver iQ reported. So far this year, many carriers have already raised compensation; more than 60% said they have increased their cents-per-mile pay, while more than 50% have implemented performance bonuses and about 11% are guaranteeing a weekly wage. Less than 10% said they had not raised compensation. As for overall compensation for drivers, more than 80% of carriers believe that an annual wage of $75,000 would attract prospects and impact driver turnover, Driver iQ found.