How truckers can benefit from overtime pay
In an effort to curtail driver turnover around the country, finding new and creative ways to help truckers could benefit the trucking industry as a whole.
Trucker turnover consistently sits between 70 to 90 percent, meaning that truckers often jump from carrier to carrier looking for the best opportunities to make money.
While it is good that they stay in the industry, it may benefit carriers to keep good and experienced drivers around for the long haul.
In essence, instead of spending time and resources on training and recruiting new drivers, carriers may be able to save thousands by keeping drivers among their ranks.
Additionally, it’s just a lot more beneficial for long term stability. When you have drivers around that understand your company’s values and goals, you’re able to get more out of them in the long term.
While carriers may have to try new strategies, there are also ways states and the federal government can help. One suggestion that has been floated is offering truckers competitive overtime pay.
Overtime pay, for those not exempt, can be achieved once a worker exceeds 40 hours worked in a week. For every-hour worked exceeding 40, they generally get paid time-and-a-half.
Federally, the overtime pay rate is one and one-half times the employee’s regular rate of pay for all hours worked. On the state level, that measurement can differ greatly.
So, what benefits could truckers have from overtime pay?
Implementing overtime rules in trucking would essentially allow drivers to improve their wages drastically, as they consistently work 60 to 70 hours throughout 7 or 8 days before their 34-hour reset.
Truckers could easily collect 20 or 30 hours of overtime, which would drastically improve their wages week to week and make the physically taxing part of the job worth their while.
According to Steve Banker in an article for Forbes, paying for overtime could also be a way to attract more people into the industry.
“Make trucking subject to the Fair Labor Standards Act’s overtime provisions, pay time-and-a-half for weekly hours over 40, and the job becomes more financially rewarding,” said Banker. “This, in turn, would attract more people into the profession.”
Even though it would surely bring more drivers into the industry, there is currently no data to prove how effective it could be in trucking.
Nevertheless, it’s likely too radical of a change in the industry, as carriers have little-to-no incentive to really payout that much overtime weekly and would probably fight against any efforts to implement the change.
Additionally, hours of service would likely need a drastic overhaul in order to accommodate carriers. While highly unlikely, it may be able to have a positive effect if ever actually put into practice.
So, what do you think about implementing overtime in trucking? Let us know in the comments or on social media!
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