Driving a truck is a challenging job. Many drivers feel that they are not paid what they are worth considering the amount of work that they put it on a daily basis. Insufficient pay is a significant reason why many truck drivers leave their companies or abandon the industry entirely. This has been a source of frustration for many carriers, shippers, and customers, as the lack of truck drivers has led to capacity shortages, significant delays in transportation, and increased rates across the country. These problems could all be alleviated if more drivers were earning what they believe they deserve, and there are things that carriers can do to help attract more drivers to their fleet.
At the end of the article, you can see our drivers that reached the milestones for their bonuses for Q2 of 2018
While many carriers claim that they cannot raise wages or the rates that they pay their drivers, they can indeed offer attainable and tangible bonuses that can significantly increase the pay of the truckers. If a driver performs exceptionally, he is bringing in more money to the company, and he should be treated as such. A driver should be rewarded for his dedication and his contribution to the increased profits of the carrier.
Unfortunately, many carriers don’t offer bonuses at all, or they offer packages that are unattainable or just not worth the extra effort. Driver bonuses should be based on clear guidelines and achievements, setting realistic expectations and giving the drivers a fair share of what they earned. If a driver has to push himself exceptionally hard for a small one-time bonus, he will become burnt out and may lose motivation to strive towards the bonus.
Our company, however, looks at bonuses in a different way than most other carriers. Last quarter, we came up with a new program. It has been well received by our drivers and has resulted in big payouts for them. Our drivers start with a base salary of 50 cents. With our new bonus structure, we promised our hard-working drivers that they could make 60 cents per mile. However, they went over 33,000 miles. This is a retroactive bonus that includes all the miles they already drove plus any additional miles after the 33k. This means that if a driver hit 34,000 miles, he gets 60 cents per mile on all those miles, or an additional 10 cents, which comes out to $3400 for the quarter. That is undoubtedly a significant bonus!
We have a large fleet of drivers, and many of them hit this milestone, so we are paying over $50,000 in bonuses for the last quarter. We are happy to keep our promise because it means that our drivers are making more money and will be happier in the long run. This will help us retain a strong employee base and create a culture that focuses on teamwork and success.
We have found that this is a far more effective strategy than that employed by many other carriers. They often promise only certain benefits as a reward for working more extended hours and spending more time away from their family. This is not enough incentive for a driver to continue working harder, and we believe it is why many truckers leave their carriers. While many people enjoy the lifestyle of a truck driver, money speaks volumes, and they will pursue opportunities where they can make more money if they feel like they are being underpaid.
Some carriers offer signing bonuses to entice new drivers to begin working with them. These signing bonuses, however, are often spread out over the first year or two of driving, and usually only amount to around $3,000. With our new bonus program, our drivers can earn this or more in every quarter. This is a far more attractive option for drivers who are willing to put in the hours to make the miles happen.
A signing bonus is nice, but as we mentioned, it is a small, one-time bonus that you may not even see to completion if you don’t stay with the company or if they go under. Continual, goal-based bonuses are a superior reward system that will help motivate drivers to reach new goals and heights in their careers continually. If a driver can earn an extra $12,000 or more throughout the year, he will want to work for the company and continue to strive for excellence.
We believe that our company benefits from keeping a loyal, dedicated fleet of drivers rather than cycling through a large group of temporary drivers and suffering from high turnover. It is our strategy to provide a proper and profitable atmosphere for every one of our drivers, and that starts with paying them what we believe that they deserve. A well-paid driver is a happy driver that is far less likely to pursue a position at another company.
We make this possible by offering a very fair base pay but also giving the incentive to reach milestones to procure large, sustainable bonuses. As mentioned, we had many drivers reached their milestones last quarter, and we are proudly paying them the extra money that we promised. This is because we value every one of our employees and we know that each of these drivers worked hard every single day to drive the number of miles needed to earn these bonuses.
Hard work always pays off in the long run, and it is up to carriers to reward their drivers in a fair and lucrative manner. A driver bonus should feel like a significant amount of money that can significantly raise their annual income rather than the small perks and benefits that many carriers offer. Drivers who are not fairly compensated will ultimately end up looking elsewhere for their income. Many even look for new careers entirely, and that is harmful to the industry as a whole. It is up to us as carriers to provide fair wages, healthy bonuses, and profitable life for our truck drivers.
Q2 2018 Logiflex Drivers that got their bonus
Edgard Alvarez - 41022 miles
Roscoe Battle - 35549 miles
Robert Belcher - 38048 miles
Gilberto Enriquez - 35358 miles
Larry Ford - 39375 miles
Fabian Garcia - 34553 miles
Richard Marschall - 42167 miles
Alan Meyer - 34679 miles
Hristo Mihaylov - 44937 miles
Hristo Moysev - 34030 miles
Gloria Null - 34930 miles
Adrian Padilla - 33668 miles
Vladimir Petkov - 39372 miles
Robert Pinkelton - 38972 miles
Elmer Rodriguez - 33484 miles
Lorenzo Steer - 33730 miles
Randy Trichel - 36947 miles
Christopher Valenzuela - 36543 miles
Robert Wess - 37327 miles
Tim Wagner - 33252 miles (Tim joined Logiflex in May, but still made the bonus in just two months!)