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.”
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Marvin Walls
Hello, Speaking from a independent and owner operator, four of my siblings and I started this Transportation endeavor in 2019. Since start up we have endured some very challenging time, beginning with COVID-19, the rising cost of truck expenses, freight going down hill like a snowball headed for hell to people attempting or selling faulty equipment. I must say the cost of fuel is somewhat better than it was few months ago. We’re continuing to stagtergize to stay afloat. I can’t say how much longer we can continue to operate under the current conditions. I pray that transportation service providers will have strength and the will to hang in there and stay safe. I do understand this is all some of us would or want to do these are very trying time for the transportation industry. If it doesn’t turn for the better soon my team and I will be force to make the ultimate decision.
Stephen webster
Costco is still paying over $30 U S plus a $200 week in medical and other benefits in parts of U S a number of drivers from ont Canada are married to U S single moms are going to work for Costco and other private store chains. I would the same if not disabled.