Trucking could use about 30,000 extra drivers right now, but qualified applicants aren’t exactly breaking down the industry door to get in and those already driving are prone to moving from fleet to fleet. It doesn’t have to be this way, according to compensation expert Beth Carroll, managing principal of Prosperio Group and the special guest speaker at a free live webinar held Tuesday December 9 from 1:00 p.m. to 2:00 p.m. EST.
Prosperio Group has helped more than 100 transportations companies improve their bottom line by maximizing the return on their compensation expense. According to Carroll, the ways in which companies talk about and manage pay can have an enormous effect on driver satisfaction, performance and loyalty. For example, it is more attractive to drivers to be told that they can expect to make a total of $50,000 on average with up to an additional $10,000 in performance incentives than it is to be told you pay 48 cents per mile, even if the amounts work out to be about the same.
In this online event, Carroll shared information on:
- Trends in driver pay
- Approaches to incentive programs
- The process for designing successful compensation programs
- The Target Total Cash compensation model
- Evaluating, testing and rolling out new compensation plans
- Other components of driver motivation
- And more…
The webinar was hosted by Fleet Owner and sponsored by Lytx. A recorded version of the program will be available online shortly via a link from the Fleet Owner website.
