Con-way Truckload, a subsidiary of Con-way Inc. has announced the rollout of an enhanced driver compensation package that raises per-mile pay, increases layover pay and adds a new incentive which will reward drivers for both loyalty and helping achieve productivity goals.
The new pay package goes into effect September 7. When combined with Con-way Truckload’s existing compensation and incentive programs, the enhancements increase per-mile pay for new-hire experienced drivers to a total of 42.5 cents per mile.
“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.”
The new incentive bonus is designed to increase productivity while rewarding drivers for their loyalty. 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.
With respect to layover pay, the company is increasing driver compensation from $60 to $75 per day.
The enhancements complement one of the industry’s most attractive and competitive compensation and benefits package for professional over-the-road truck drivers. Currently, Con-way Truckload’s package includes consistent freight, bonus pay for reaching safety performance objectives, paid vacations, health care plans, a retirement savings 401(k) plan including a company contribution, free rider programs, a pet companion ride-along program and reliable home time.
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.”