Four perks for improving your retention rates.
In a June, 2011 Journal Of Commerce story, the American Trucking Associations reported that the driver turnover rate at large companies rose to an annualized rate of 75 percent in the first quarter of 2011. Which is why the single most cost-effective recruiting tool is often improved retention.
According to an interesting story published by Truckinginfo.com, many top-rated recruiters are motivating their drivers by offering them a variety of rewards. Here are four perks companies use to ensure that they retain their fleets:
1) “MILESTONE” AWARDS.
Bison Transport awards drivers when they reach safe driving milestones (125,000 miles, 250,000, etc.). Rewards range from annual banquets to trophies and jackets. Foster Farms rewards drivers on their hiring anniversaries with cakes and barbeques.
2) MONETARY REWARDS.
Kennesaw Transportation (which was nominated in the TCA’s 2011 “Best Fleets to Drive For” list) offers drivers $10,000 seniority bonuses for every five years with the company. Director of Recruiting Ray Hanna says the company handed-out $200,000 at last year’s Christmas party. Bison offers pay increases for the safest drivers—boosting pay by 2 cents a mile if they drive at 59 mph.
3) OFF TIME.
Any time a trucker gets to spend off the road is “a big darn deal”, says Mike Hinz, vice president of driver recruiting at Schneider National. Schneider lets 75 percent of its fleet get home at least weekly. Coastline Transport has increased home time by assigning drivers lanes closer to home.
4) LISTENING TO DRIVERS.
It’s not even what you’d call a perk, but it may be the most important thing that keeps drivers with companies. Melton Truck Lines reminds its employees that their input in essential by conducting “satisfaction surveys” every five to 90 days. Con-way Truckload has established an “open-door policy” where drivers can approach the higher-ups face-to-face with their problems.
Nothing radical here. Just good common sense. But when done right, it can lead to uncommonly good value for your company. And when you think about it, there’s an additional recruiting benefit to showing your drivers a little extra appreciation: Happy drivers are a lot likelier to tell others. Which can add-up to a stronger Driver Referral program.
FOR FURTHER READING
Truck Driver Recruiting: It’s Not Just About Money.