Driver iQ, provider of comprehensive and reliable background screening and driver monitoring services for the trucking industry, announced that carriers taking part in its Q1 2018 Recruitment & Retention Survey are raising driver pay to help improve recruiting and retention efforts.
“Not only do recruiters believe that pay must be increased, companies are already raising pay and recruiters expect that salaries will continue to increase,” said Lana R Batts, co-president of Driver iQ. “By taking the pulse of truckload recruiters across the nation, this survey highlights trends and future expectations of driver applicants and recruits. That information leads to effective changes in recruiting activities, and better outcomes in retention.”
Details in the Driver iQ Q1 2018 Trends In Truckload Recruiting And Retention survey include:
•More than 60% of respondents indicate they have increased their cents per mile, while 51% have raised performance bonuses.
•Changes in pay programs vary greatly by size of carrier; for example, 67% of the largest carriers were more likely to offer more cents per mile.
•Larger carriers were also more likely to offer soft bonuses, such as more home time, than smaller carriers.
•Medium-size carriers were more likely to offer performance bonuses (55%) than increasing cents per mile (23%).
Survey results also showed that 72% of driver recruiters expect compensation, including pay and benefits, will rise in the second quarter of 2018 compared with their lower expectations in 2017. In addition, 83% of carriers with more than $100 million in gross operating revenues expect future compensation will go up compared with 50% of smaller carriers.
This survey from Driver iQ is the third in a series of quarterly surveys designed to understand and measure recruiting and retention experiences and expectations in the truckload sector. Results are coupled with observations of Driver iQ personnel engaged in background screening. The survey represents the views of recruitment managers who operate more than 75,000 trucks. Most of the responses came from carriers with more than $100 million in gross operating revenues.
For more information, visit www.DriveriQ.com.