Transport logistics provider United Road has expanded its guaranteed pay benefit to all company drivers so that first year, tenured and rehired drivers can all expect a level of financial assurance and can count on a consistent level of pay each pay cycle.
The benefit is a key element in United Road's strategy to attract, train and retain professional car haulers in particular in their first year of driving, United Road officials said in a press release.
For drivers in their first year guaranteed pay is $2,300 per pay period, which over the course of a year equates to a pay of at least $60,000. Tenured drivers, those with one year-plus of employment, will earn a minimum of $2,500 per pay period, at least $65,000 annually.
Typically, United Road company drivers earn well-above these thresholds with the top quartile of tenured drivers earning an average of over $100,000 annually, company officials said in press release.
"Our drivers haul in all kinds of weather including through and around hurricanes, construction zones, under challenging circumstances — from the pandemic to the chip shortage," Mark Anderson, United Road president and CEO, wrote in a letter this week to company drivers. "We recognize that many elements of carhauling are out of a driver's control including the variability of earnings. Guaranteed Pay is a mind-easing benefit, a safety net that can help mitigate the downswings of pay volatility."
To qualify for guaranteed pay a driver must be an active employee and operate a seven-car hauler or larger truck; be available to accept all assigned work within a current two-week pay period; and work a minimum of 100 hours during a pay period.
"We piloted the benefit earlier this year with first year drivers and saw a dramatic increase in driver satisfaction and retention," Anderson said. "It was a natural to take this pay stabilization benefit company-wide with our tenured and returning drivers. Our goal is to be the employer of choice for professional drivers.”
United Road employs approximately 900 professional drivers and has a network of nearly 1,000 independent contractors and 5,000 third party carriers.