Overdrive Magazine | Trucking Business News & Owner Operator Info
Issue link: http://read.dmtmag.com/i/165354
Courtesy of Jon and Miriam Brown Pay for over-the-road drivers has risen steadily over the decade, but some people think it hasn't risen enough. Max Heine are approaching retirement age. • New regulations – notably the Compliance, Safety, Accountability program – have pushed many drivers out of the industry, either involuntarily or in disgust. • Productivity losses due to the new hours of service regulations mean more drivers are required to deliver the same amount of freight. • Many fleets have been cautious about rebuilding their capacity since the recession, due to the sporadic recovery, and would be hard-pressed to quickly add trucks and drivers should demand spike. One possible explanation is that the wage data does not count extra payments, such as hiring bonuses and increases in assessorial charges, says economist Noel Perry, managing director and senior consultant at FTR Consulting Group. Indeed, nearly half of carriers are offering sign-on bonuses, compared to only 12 percent two years ago, consultant Gordon Klemp told trucking fleet executives during the 2013 CCJ Spring Symposium. Bonuses range from $250 to $5,000 for solo drivers and from $2,000 to as much as $15,000 for teams, said Klemp, principal with the National Transportation Institute. "Recruiters say bonuses are here for September 2013 | Overdrive | 27 Driver_Shortage.indd 27 8/27/13 10:52 PM