The trucking industry is experiencing unusually aggressive and volatile movement in driver pay, which is evidence that the market may be headed into a significant driver shortage that will have all trailer types struggling to find drivers
The combination of the electronic logging device mandate, a shortage of drivers and an improving freight market has carriers and shippers wondering about transportation prices heading into 2018.
The National Driver Wage Index, which measures over-the-road driver pay, rose 0.9% year-over-year in the second quarter, but the index is likely to grow at a faster pace as truckload carriers experience the positive effects of economic growth and the electronic logging mandate on freight rates, according to the National Transportation Institute.
The average age of the truck driver is 52 and each year that number continues to increase, according to Leah Shaver, COO at the National Transportation Institute.
One way to address the growing shortage of truck drivers is to actually listen to what truck drivers want from the job they perform and that does not always center around pay, though wages make up a large proportion of their wants and needs.
To keep the best drivers long term requires compensation packages that include more than just money. No, the $100,000-a-year truck driver is not just an urban legend. And that driver exists beyond working on a dangerous “ice road” or traveling through a war-torn nation.
Truck driver pay was stagnant in the first quarter, marking anemic growth of a fraction of a percent, according to data from the National Transportation Institute.
Salaries for truckload drivers rose at the low rate of 0.04 point in the fourth quarter year-over-year, according to the latest National Transportation Institute index (or 0.03% on a preliminary basis), the slowest in 2016.
What’s the key to hiring good drivers these days — and then keeping them? Is it money, benefits, lifestyle? All of the above or more than that?
The Women In Trucking Association has created the WIT Index in an effort to more accurately track the number of women working in the trucking industry. WIT partnered with the National Transportation Institute to obtain more accurate data after it found issues with the way the Department of Labor was reporting the number of women in the trucking industry.
Baylor Trucking of Milan, Indiana, is the latest carrier to increase pay rates at the beginning of 2017, one that an industry analyst on driver pay believes could spread across the industry.
In an effort to better quantify the number of women working in the trucking industry, Women In Trucking Association, Inc. (WIT) created the “WIT Index,” which measures the number of women drivers and management at organizations nationwide.
Driver pay grew in the third quarter at the lowest levels in seven years as fleets continue to hedge against soft demand, but two large truckload carriers have announced raises effective Jan. 1 that could catalyze others to follow in 2017, according to an industry official who studies salaries.
A lot’s been said about the issue of retention in the trucking industry in regards to both commercial drivers and maintenance technicians, with pay and home time at the heart of the matter where big rig operators are concerned.
The trucking industry has a lot of obstacles to overcome when it comes to retaining drivers. An aging workforce, low pay for demanding jobs, and inconsistent training are just a few.
Driver pay increases during the second quarter sank to the lowest level in seven years as fleets show almost no interest in raising compensation to attract drivers when lackluster freight levels don’t require that step, according to an industry official who studies pay levels.
Downward pressure on truckload rates and a weak freight market this year have almost eliminated driver pay increases that were widespread as recently as early 2015, according to an industry official who tracks compensation trends.
A well-aimed compensation package helps recruit and retain high-quality drivers. Consider it the holy grail of trucking, the genie in the lamp, or maybe a unicorn.
Private fleet pay still well-surpasses for-hire pay, NTI survey finds. Driver pay scales are rapidly becoming complicated as fleets across the trucking spectrum – from for-hire to private – seek to reduce turnover and bring in new blood.
NTI’s VP Mark Shaver shares insights on driver recruiting & retention with TT’s Eugene Mulero.
The National Transportation Institute together with The Lawrence Companies, Inc. talk about how they tackled recruiting and retention, AND saved money doing it, with Big Data
Anderson Trucking Service, Inc. was recently named a Top Pay Carrier for 2016 by The National Transportation Institute. The award further celebrates the company’s 60 years of excellence and integrity with an elite endorsement.
Many freight haulers have in the past year pushed through their biggest raises in decades. Truck-stop job boards and satellite radio airwaves are saturated with want ads, some offering sign-on bonuses topping $5,000 and free bus tickets to drivers willing to switch employers.
As with owner-operator income last year, driver pay writ large was up substantially last year, according to the National Transportation Institute, publisher of the National Survey of Driver Wages.
Most carriers, when surveyed, report that they are in favor of hiring less-experienced and even younger drivers, yet far fewer few are actually doing it. The big question on the table seems to be: “How do you safely and successfully onboard newer drivers and at a reasonable cost?” And, how do you retain them as happy and productive employees once you do?
It may not have exactly been “the shot heard ‘round the world,” but for many company drivers, it may have been the most important event in the American trucking industry last year, the echoes of which are still being heard.
People packed Fleet Owner’s virtual conference room recently to hear two experts from the National Transportation Institute — Gordon Klemp, CEO and Leah Shaver, vice president, sales and marketing—talk about driver recruiting and retention in a webinar called, Helping New Drivers Succeed and Stay.
Pay and benefits are changing as fleets work to recruit and retain drivers, but treating drivers right is still a top priority. Recruiting and retention; it’s akin to bailing water out of a boat that has a hole in it. You really have to plug the hole first, otherwise you’re constantly fighting to stay afloat. In the trucking industry, that hole is driver retention.
Following Gordon Klemp’s talk at the ACS/TCA January 2014 conference in Nashville — titled “2013: The year that forever changed driver pay” — Klemp ran down some of the most salient points for employee drivers and owner-operators. Klemp, contrary to some analysts’ skepticism, sees potential particularly for spot-market rate gains in the near future, likewise pay-positive potential in performance-pay packages with robust carrier-driver communication components.
Since the change in the hours of service rule early in the last decade that brought in the rigid 14-hour duty day, detention at the loading docks has been a major pet peeve of drivers.
Listen to Gordon Klemp discuss the trends in driver pay.