Companies are expecting to continue increasing driver pay and rates into 2019 unless GDP growth stalls or declines, Commercial Carrier Journal reports. Gordon Klemp, president of the National Transportation Institute predicts that wages will increase 11 to 11.5 percent in 2018, making the year the highest for pay increases on record.
A driver shortage has been looming over the industry for some time now. To attract new drivers, companies are boasting high pay and more benefits. However, a recent NTI survey found that only 6 percent of respondents said that pay increases were bringing in new drivers compared to 85 percent said that pay increases didn't bring in any new talent. However, respondents said that pay raises were important to maintain their existing driver count.
CCJ reports that there are many other factors beyond pay that work against trucking when it comes to new talent. Weather, congestion, breakdowns-- things outside a drivers control-- limit talent, while long hours also play a factor as well.
In 2019, Klemp predicts that pay will increase 7 percent nationally. Additionally, some trends include: guaranteed pay, transition pay, high engagement activities and increased carrier and shipper collaboration to eliminate inefficiencies.
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