Swift Announces Ranked Driver Quarterly Pay Bonus
June 26, 2012
Swift Transportation will soon start awarding ranked company drivers a new Quarterly Performance Pay bonus of up to 6 cents per mile.
Swift company drivers are currently ranked based on their safety, service and productivity level. This new program begins on July 1, 2012, and bonuses will be paid at the end of each fiscal quarter to ranked drivers who are employed the entire quarter.
The new Quarterly Performance Pay is in addition to the current pay and motivates drivers to improve their ranking through focused attention to safety, on-time service and miles driven, the company explains. 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 helps the company achieve its goals. The cost of the quarterly bonus is expected to be approximately 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 COO.
For more information, go to www.joinswift.com