Running a trucking company can be very challenging at times. Some of the challenges that trucking companies face include the rising costs of fuel and insurance, hiring and maintaining good drivers and maintaining a good online reputation for the company.
Rising Fuel Costs
Almost everyone is affected by the price of fuel, but few industries are affected as much as the trucking industry. Some companies that need their products hauled are offering fuel surcharges to help trucking companies cope with the rising fuel prices, but the surcharges usually don’t keep pace with the rise in fuel costs. It’s almost impossible for companies to predict rises in fuel costs, making it difficult for them to bid jobs accurately and make a profit from every load they haul. Most companies spend more money per year on fuel for each truck than they pay each truck driver who hauls loads for them.
Increased Insurance Costs
Trucking companies have to have a certain amount of insurance to operate legally as a carrier. Unfortunately this insurance is often expensive, especially for companies who choose high coverage amounts and low deductibles. Hiring drivers who have excellent driving records is a great way to lower your insurance premiums. Another way to save on insurance is to get quotes from several commercial auto insurance companies. The first company you get a quote from may offer you the best price, but it is usually worth the time and effort to get quotes from at least three companies before making a decision. Paying your insurance premiums upfront for the entire year can also save you a considerable amount of money each year.
Attracting and Keeping Drivers
A good truck driver with no tickets or accidents is a very valuable asset and companies have to work hard to keep good drivers from leaving their company to go to another company that pays more or offers better benefits. Trucking jobs are readily available even when the economy is in recession, so companies are forced to offer bonuses and increase driver pay to keep the best drivers in their fleet and attract more high-quality drivers.
Many companies offer bonuses to drivers who stay with the company for a certain amount of time. These bonuses generally start at one year and may continue for twenty years or more. Another strategy that companies are using is offering current employees bonuses for recruiting and referring people they know who are a good fit for the company. Offering flexible schedules with more time at home is also a great way to keep employees from switching to another company. If your company is having trouble keeping good drivers, try asking the drivers you have what they like best about the company. They will generally be happy to tell you where improvements can be made.
Maintaining a Great Reputation Online
We live in a time where it is very easy to get information out to thousands of people very quickly. This can be both a good thing and a bad thing. Any company who offers trucking jobs is likely to have drivers search for them online. It’s important to ensure that everything a driver finds online about your company is true. Checking at least once per day is a great way to ensure that false information is not being spread about your company. Social media sites such as Facebook and Twitter are a great way to interact with customers and share information about your company, but competitors or disgruntled former employees can use these sites to spread negative information about your company if you don’t monitor your company’s online reputation regularly.