Drivers are more satisfied with a percentage split pay, rather than hourly or per mile methods, according to a recent study by Stay Metrics.
Percentage split pay means drivers get paid a percentage of the invoice that is billed to the customer, instead of being paid hourly or per mile.
Stay Metrics compiled data from more than 4,000 drivers with 31 different carriers. Of those 4,000 drivers, 2,364 were paid on a percentage split, 1,795 were paid per mile and 360 were paid hourly. The study found that drivers paid on a percentage split were 31% more satisfied with their pay than hourly and 29% more satisfied that per mile drivers. Hourly drivers were the most likely to feel that they were underpaid.
Ultimately, the research pointed to a correlation between perceived input into one’s pay and pay satisfaction, with drivers who felt they had input also having more satisfaction.
“How someone is paid is as important as what they are paid,” said Tim Judge, director of research at Stay Metrics. “I think paying based on customer charge leads drivers to believe that their pay is fair, because it shows an alignment between what the carrier gets and what they get."
Stay Metrics is a recruiting and retention consulting company aimed specifically at truck drivers. It uses research and behavioral psychology to gather and interpret data on drivers.
Source: Trucking Info