Con-way Truckload today announced they’re rolling out an “enhanced driver compensation package that raises per-mile pay, increases layover pay” and adding more incentives to reward drivers for their hard work and loyalty.
The enhanced driver compensation package will go into effect on September 7 and will combine with Con-way Truckload’s existing compensation and incentive packages, “the enhancements increase per-mile pay for new-hire experienced drivers to a total of 42.5 cents per mile,” Con-way said in a statement.
Con-way says that driver feedback prompted the enhanced compensation package.
“Our drivers are the company’s most important asset. After listening to their feedback and evaluating current market trends, this is the right time to increase our mileage rate and add new compensation programs which reward driver loyalty, productivity and safe driving performance,” said Joseph M. Dagnese, president, Con-way Truckload. “We take pride in providing a competitive compensation package that reflects driver input and incents them to operate our equipment as safely and efficiently as possible.”
In addition, a new incentive bonus, designed to increase productivity and reward loyal drivers, will be added to the enhanced compensation package.
“Based on reaching thresholds for continuous mileage/continuous employment, the program provides the opportunity to gain additional earnings through an annual bonus. Under this program, drivers can earn additional compensation, paid as an annual bonus, of between 1.5 cents and 3 cents per mile, on miles driven over the previous 12 months from their anniversary date,” Con-way said.
The new driver compensation package will increase layover pay from $60 to $75 per day.
Con-way says that the enhanced driver compensation package is one of the best in the industry. Con-way Truckload offers bonus pay for safety performance objectives, pad vacations, health care, 401(k), free rider programs and a pet ride-along program.
Dagnese added that the mileage pay increase also would apply to Con-way Truckload’s independent contractors. “Our independent contractors are a key part of our strategy for providing consistent, high quality capacity and service,” he said. Independent contractors for Con-way Truckload earn competitive mileage income and are provided a fuel reimbursement program. Other services include fuel purchasing assistance, discounted accounting services, bonuses for reaching predetermined productivity levels and safe-driving milestones and free preventive maintenance.
“Providing our drivers and independent contractors with a competitive and well-thought-out pay package recognizes the value they represent to our company and our customers, and the crucial role they play in the quality of our service,” Dagnese noted. “By continually examining and evaluating our driver compensation, we will remain one of the best and most desirable truckload carriers to drive for in the industry.”
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