How Creative Is Your Compensation?

To attract and retain drivers in this market many companies are changing how they compensate. The Driving Force spoke with several operators and put together a list of trends that go beyond the basic concept of competitive wages.

• Guaranteed minimum daily rate.
• Compensation based on a percentage of revenue.
• Mileage-based compensation.
• Gratuity included on all charters.
• Meal allowances.
• Cell phone or fuel allowance.
• Referral pay per mile.
• Tier Systems – payment based on seniority.
• Longevity bonuses.
• Frequency of Pay-weekly vs bi-weekly.

It is important to include all of this information as part of your total compensation package that goes beyond an hourly rate. Your company’s total compensation package should include all of your benefits, wages and forms of payment including paid time off.  Don’t sell your company short by not providing the potential employee with everything they will receive working for you.

Let us know what you are doing to pay your drivers.  Email us at [email protected]. We want to hear from you.