One of the biggest consistent challenges in last-mile delivery, has been attracting and retaining truck drivers in the last mile. In fact, a recent survey conducted by Modern Shipper revealed that 37.8% of last-mile delivery firms in North America said hiring and retaining drivers was their biggest issue—a concern even more important than improving operational efficiency.
In 2021, the American Trucking Associations (ATA) estimated a shortage of at least 80,000 drivers. Shifting consumer expectations, high turnover rate, low pay, lack of benefits, poor working conditions, and competition from other industries are all reasons for this.
Transparency in Earnings: Giving truck drivers a clear view
It then becomes vital to improve driver satisfaction in the last mile. This means providing fair compensation to drivers, offering flexibility in their delivery schedules, clear and timely communication to ensure that everyone is on the same page around delivery expectations, and providing ample training and developmental opportunities to help them improve their skills and become more invested in their work, among others.
One such opportunity to improve driver satisfaction and attract new drivers comes in the form of driver payout visibility. It allows drivers to view their earnings and payout information in real-time, typically through a web portal or mobile app. Details include trip earnings, bonuses, deductions, along with a schedule for payouts and method of payment. It helps drivers to understand their earning potential and plan their finances accordingly.
Simplifying driver earnings with the Locus Companion App
Locus Companion App allows drivers to empower drivers with instant access to their current and potential earnings by streamlining payment structures on an integrated contract library. Not only does it simplify access to payment information, it builds trust with drivers and motivates them to work consistently. Some of the key benefits of payout visibility include:
- Helps drivers plan their budget and finances: The Locus Companion App displays payment breakdown with historical data as well as incentives on a dedicated tab on the driver app. By giving drivers a clear understanding of how much they are earning and when they will be paid, they can plan their budget and finances and avoid any surprises when it comes to their paychecks. Being able to view the schedule for payouts and the method of payment lets them know where they stand.
- Acts as a single source of truth for all payment communication: A single channel visibility system can be a huge time saver, especially for drivers who are constantly on the road. They can simply log on to a system and know everything they need to. All payment information is consolidated in one place, providing easy access to both drivers and businesses, eliminating chances of any miscommunication.
- Helps in earning trust through visibility: Single channel visibility on the Driver Companion App helps in avoiding any discrepancies and errors in payment, allowing businesses to build good relationships with their drivers. Built-in price guides also standardize earning potential for drivers, ensuring consistency in their earnings and helping them stay motivated by providing insights on how they can earn more.
- Helps track performance and progress: Payout visibility can help fleet managers better understand the performance of their drivers, identify any trends or patterns and resolve any issues that may be impacting their performance.
It’s no news that a happier workforce delivers better. A single channel visibility system for driver payments provides a single tab for all driver contracts, set up payment contracts, and maintain oversight with payment summaries. It adds to job satisfaction considerably by providing drivers with the information and tools they need to manage their finances, feel fairly compensated and empowered, and achieve their own goals as well as that of the business.