PHILADELPHIA. Are you paying drivers too little? Too much? The wrong way? How’s a fleet exec to know?
To solve the competitively tricky issue, Prosperio Group, a specialist in compensation planning for the transportation and logistics industry, is developing a compensation survey focusing on truck driver pay. And, to encourage participation and make the analysis as comprehensive as possible, fleets which provide driver pay data will receive the basic report at no charge, explained Managing Principal Beth Carroll during a press event at the ATA Management Conference and Exhibition here this week.
The survey will address the need for improvement in the timeliness and accuracy of data on truck driver wages. The survey data are expected to assist human resource managers, fleet CEOs, and other executives in making better decisions about driver compensation levels and methods, as well as in anticipating changes that impact pricing models.
Historically, managers have been challenged to make valid decisions based on survey data that is released long after the survey was conducted, Carroll noted. The Truck Driver MeasureUp Compensation Survey will address this need by introducing a new standard of frequency – quarterly reporting – to reduce lengthy delays of research data release.
The new survey will roll out in two phases: A hard-copy version first and, in the second phase, the Prosperio team plans to open access to the full module within the MeasureUp web-based tool. This will provide on-demand access and continual updating of data with rolling submissions.
The first edition of the Truck Driver MeasureUp Compensation Survey is planned for the fourth quarter of 2015 and will use actual W-2 payroll results rather than self-reported averages or medians. Prosperio Group is targeting both U.S. and Canadian fleets of a variety of sizes for participation.
To participate, Carroll estimates that the online application takes about 30 minutes. To compile the required pay data takes an HR specialist about a half day. The data will be kept “completely confidential,” she added, and the survey complies with U.S. Dept. of Justice rules for compensation surveys.
Participation deadline is Nov. 15.