Thousands of Dollars in sign-on bonuses also called signing bonuses are being offered by trucking companies to qualified truck drivers that sign on with their companies. Some companies are offering bonuses to new and experienced drivers. These bonuses are being offered by major trucking companies and smaller trucking companies on a nationwide basis. According to many trucking company executives there are not a sufficient number of drivers to meet their needs. As a result trucking companies are desperately in need of truck drivers.
Professional drivers are in such high demand that bonuses and rewards are often offered as a way to recruit drivers and retain drivers. These bonuses are popular among drivers and are often the deciding factor in drivers choosing to work for one company as opposed to another.
Companies have different methods of paying bonuses. Bonuses may be paid in increments or paid in a lump sum based on company policy. For example a company which offers a $5,000.00 sign-on bonus may pay it at the rate of $1,000.00 a month for five consecutive months. Another company may pay the entire bonus after 90 days of employment. Other companies may have different schedules for paying the bonus.
Truck drivers naturally like the idea of receiving a sign-on bonus. However, you should be clear about the payment terms for sign-on bonuses that you expect to receive. Be sure that you read and understand the payment terms outlined by the trucking company you sign with. Be sure to read the small print if there is a contract.
Trucking companies constantly deal with driver turnover which is a major reason for offering signing bonuses. Bonuses are offered at various times for van drivers, flatbed drivers, team drivers, tanker drivers and refrigerated drivers. Trucking companies are constantly advertising and recruiting new drivers. Signing bonuses provide an incentive to attract drivers.
Trucking companies also may be given to drivers for a host of other things. They can be given as a reward for longevity, good driving and safety records, etc. These bonuses help to keep morale high as well as reward drivers for their good work.