This fireside chat recap is from FreightWaves’ Enterprise Fleet Summit on Wednesday.
FIRESIDE CHAT TOPIC: How understanding wage data can help enterprise fleets stay competitive.
DETAILS: Two years ago, companies were dishing out driver wage increases like candy on Halloween. Leah Shaver, the president of the National Transportation Institute, which gathers huge amounts of data on driver compensation, talks about the trends she is seeing in driver pay in these tougher times.
KEY QUOTES FROM SHAVER:
“We call it the driver roller coaster because as freight adjusts we typically see an adjustment in what’s happening with pay.”
“Wage gains in the last few years have been really impactful in the fixed rate, per mile or per hour. Recently they have been mostly appreciated by folks who train and do things like hazmat. I think the pickings are going to be pretty exclusive to incentives, like for safety, productivity, fuel and tenure-based bonuses.”
“We’re losing 5,000 drivers a month to the Drug & Alcohol Clearinghouse. That will be a long-term industry issue.”
“Company drivers are not feeling the burn. Most of them said they are feeling the upside, especially if they get to take advantage of some company incentives. The independent owner-operators are feeling it.”
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now