Swift Transportation Co. announced it will begin rewarding its ranked company drivers with a new Quarterly Performance Pay bonus designed to retain and reward drivers based on their level of excellence. Swift company drivers currently are ranked based on their safety, service and productivity level. This new program begins on July 1, and bonuses will be paid at the end of each fiscal quarter to ranked drivers who are employed the entire quarter.
The new pay is in addition to the current pay and is intended to motivate drivers to improve their ranking through focused attention to safety, on-time service and miles driven; the higher the driver’s rank, the higher the Quarterly Performance Pay will be. Based on the driver’s performance, they can earn up to 6 bonus cents per mile if they have achieved superior performance for an extended period of time.
The program is designed to reward driver performance that enables the company to achieve its goals. The cost of the quarterly bonus is expected to be about 1 cent per company mile – without taking into consideration the positive impact from further improvement in productivity, customer service and safety.
“As you can see from this new plan, we are serious about retaining and rewarding the best drivers in America,” says Richard Stocking, president and chief operating officer of Phoenix-based Swift.
Also of Interest »