Higher base pay and bigger bonuses are being deployed by motor carriers across a range of sectors – from flatbed operators to dry van freight haulers.
Hornady Transportation LLC, a Daseke company, is increasing per-mile pay for both current drivers and new hires, as well as adding other monetary incentives.
Under its new program, drivers hired with at least 36 months driving experience will receive 53 cents a mile, up from 49 cents a mile and – on the anniversary of driver’s hiring date – they’ll receive another penny-a-mile increase, up to a cap of 56 cents a mile.
Drivers already with Hornady will also benefit from the new pay schedule, with an immediate increase for current drivers from 52 cents per mile to 54 cents. They, too, will see increases on each anniversary until they reach the 56-cent cap, the company noted.
This move follows the flatbed carrier’s announcement that it will guarantee drivers minimum weekly pay of $1,000.
Hornady has also added increases for tarp pay, layover pay, detention pay and breakdown pay, along with extra monies for over-dimension, holiday, and clean-inspection reports.
New drivers receive a $2,500 sign-on bonus and orientation pay (recently increased to $1,000) and also receive a $4,000 grant in the Daseke stock ownership program, the company noted
Epes Transport System is another motor carrier that is rolling out new compensation plans for both company drivers and independent contractors, representing an investment of more than $1 million in its driving force.
For company drivers, Epes has raised its per-mile pay an additional 2¢, which will boost earnings dramatically, noted Phil Peck, vice president of operations for Epes, while its independent contractors have all been changed to percentage based pay.
“This spring, we improved our independent contractor pay package which has led to sustained growth,” he added. “In the summer, we increased the hourly pay for local drivers, as well as mileage pay for all company drivers, including regional operations.”
Then there’s Boyd Bros. Transportation, another flatbed hauler that’s also a Daseke Company, which just introduced a sign-on bonus worth $14,000 for experienced flatbed CDL-A holders who join the carrier as company drivers before year-end.
The company added that Owner-operators and lease/purchase drivers are eligible for a similar sign-on bonus under the same conditions.
Offered through December 31, the sign-on bonus is a combination of a $10,000 quick pay out with a long-term $4,000 Daseke stock grant for company drivers that will invest in the driver’s future. Qualified flatbed drivers will be paid a portion on the check that includes their first dispatch, with the remaining bonus will be paid quarterly in six equal payments, Boyd noted.
Owner-operators and lease/purchase drivers may take advantage of the $10,000 sign-on bonus without the stock grant, the company added.