Con-way Inc. announced Tuesday that it’s boosting compensation packages for drivers at its Con-way Freight division effective January 4, 2015.
The company will increase current pay for drivers systemwide “commensurate with their service time” while “aligning all locations across the network to pay rates competitive for their geographic market,” the company said in a press release.
Drivers with Con-way Freight will also be aligned to a common schedule in which they will reach the top of the pay scale three years from their date of hire.
The new enhancements come after the company boosted its pay packages in August at Con-way Truckload to keep and lure experienced truck drivers amid an industry-wide driver shortage.
“With a final step in this multi-year realignment process completed, the company strengthens its ongoing efforts to attract and retain quality drivers,” said Douglas W. Stotlar, president and CEO of parent company Con-way Inc.
Stolar noted that the current driver shortage is the most pronounced the less-than-truckload company, along with Con-way Truckload, has ever seen.
“Con-way Freight provides premium service, and the skill and professionalism of our drivers enables us to keep the promises we make to our customers. This action benefits our people, our customers and our shareholders, and is supported by the improved profitability and efficiencies being delivered by Con-way Freight’s 21,000 employees,” he said.
Con-way Freight President Greg Lehmkul said the “simplified pay structure enables us to more effectively align driver pay with the market-based cost of labor, and provides increased flexibility to react to market conditions over time so we can ensure our drivers’ compensation remains competitive.”