There has been a trucker shortage for years, and even the current focus on automated semi-trucks won’t reduce the strain on supply anytime soon. It’s getting harder and harder to find new truck drivers. Part of this is due to a culture that increasingly emphasizes college graduation and corporate jobs. But the risk of poor health and safety are also turning potential drivers away. Here are some of the most effective ways companies are enticing new hires:
1. They’re using tax cuts to fund pay raises.
While truck drivers with specialty licenses and clearance to drive toxic or high-security loads have higher pay rates, the base salary for entry-level drivers has been too low to encourage new interest. But a lot of fleets have turned tax cuts into higher rates of pay to draw new interest. In the short-term, the tactic makes your company more attractive than competitors. But if you need those tax cuts to fund licensure costs, maintenance and repairs, or even new equipment, the pay-based competition could make your company come up short. Look for ways to reduce other expenses, such as insurance premiums, by investigating your historical fixed costs for new deals.
2. They’re offering bonuses for choices that lower expenses and increase revenue.
Sometimes raising the base rate of pay is more expensive than is practical. Many companies have started offering bonuses or compensation packages instead. By funding additional education, these companies are investing in the drivers that are likely to be valuable to their company for years to come. Funding new licenses, specialties, and expertise opens the door to new business and more exclusive contracts, so it’s a deal that everyone can profit from.
Companies are also offering bonuses for safe driving records and tight compliance with regulations. Good driving records across your fleet makes your company and individual drivers less of a risk for insurance companies, and you can use past performance to negotiate for either lower premiums or higher coverage at the same rate.
Go to J.E.B. Insurance Services, LLC. for more suggestions and the right coverage to keep your company safe. We provide commercial truck insurance in the states of Florida, Georgia, Texas, North Carolina, South Carolina, Tennessee, Illinois, Iowa, and Nebraska.
