TULSA, Okla. — Driver iQ, a provider of background screening and driver monitoring services to the trucking industry, says carriers taking part in its first quarter 2018 Recruitment and 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.”
Among the details in the Driver iQ first quarter 2018 Trends In Truckload Recruiting And Retention survey are the following:
- Over 60 percent of respondents indicated they have increased their cents per mile, while 51 percent have increased performance bonuses
- Changes in pay programs varied greatly by size of carrier, including that 67 percent 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 the smaller carriers
- Medium size carriers were more likely to offer performance bonuses (55 percent) than increasing cents per mile (23 percent)
The survey results also showed that 72 percent of driver recruiters expect that compensation, including pay and benefits, will increase in the second quarter of 2018 compared to their lower expectations in 2017.
In addition, 83 percent of carriers with over $100 million in gross operating revenues expect that future compensation will increase compared with 50 percent of smaller carriers. Regardless of size, no one expected that compensation would decrease.
The first quarter 2018 Trends in Truckload Recruitment and Retention Survey from Driver iQ is the third in a planned series of quarterly surveys designed to better understand and measure recruiting and retention experiences and expectations in the truckload sector.
The results of the survey are coupled with observations of Driver iQ personnel engaged in the background screening industry.
For more information, visit www.DriveriQ.com.