Memphis-based Intermodal Cartage Company has announced a 30% pay raise for its drivers to proactively reach out to more prospective employees at the drayage carrier.
IMC is the latest carrier to offer a substantial pay raise in the past few months in an effort to attract new drivers and retain experienced drivers. With high demand to move freight and an ongoing driver shortage, trucking companies are actively making moves to be more competitive employers.
Current driver shortage estimates find that as many as 90,000 drivers are needed nationwide, and hundreds of thousands will be needed in the coming decades in order to meet rising demand.
“The ATA notes that more than 70% of goods consumed in our country are moved by truck, so investing in drivers literally keeps America moving,” said Mark H. George, chairman of IMC Companies. “Our effort to increase driver pay ensures that we will continue to be able to provide the superior service on which our customers depend.”
IMC also announced that it supports recent legislation to expand interstate trucking opportunities for drivers between the ages of 18 and 21. The legislation is an effort to reach out to young people and introduce them to a career in trucking. According to the U.S. Bureau of Labor and Statistics, the average age of a truck driver is 55 years old.
“Proactive efforts like ours, paired with an emphasis on quality equipment and efficiency at the rails, ports and customer sites, will help us to work together through the driver shortage,” said George. “Our goal is to retain seasoned drivers while attracting new talent to our growing industry.”