Tenstreet has long been in the business of promoting rewards programs to carriers to increase retention and keep drivers happier. One of the most common questions we get is, “Why rewards?” Doesn’t it make more sense to just give drivers more cash? If your wages are already competitive, the answer is no.
In an article about truck driver incentive programs, Goodyear Tire created an incentive program to sell a specific type of tire at its stores. Half the employees were given a cash bonus for every 12 tires sold. The other half received non-cash merchandise rewards. The non-cash group outsold the cash group by 46%, for an ROI of 31%, compared to -20% at the cash stores.
Non-cash rewards have a fundamentally different psychological effect on drivers – read on to discover the many benefits of implementing a rewards program at your carrier.
Recognize Success
A truck driver rewards program provides a vehicle for recognizing your team for great work. Truck drivers are chronically underrecognized and under-rewarded as an employment demographic despite the challenging nature of being on the road for long stretches of time. Reversing this trend can be a solid differentiator for you as a carrier.
William Craig, in his 2017 article for Forbes, notes that there are three important reasons to focus on employee recognition. First, an employee who is recognized is happier, and a happier employee is, on average, 12% more productive.
Second, recognizing your employees fosters a culture of trust and loyalty. Craig cites a study that showed that nearly 90% of employees who received recognition in the past month felt a high level of trust with their supervisor, compared to 48% among those who did not.
Last, recognized professional driving service employees don’t leave as quickly. In transportation, preventing turnover can pay off big time.
Celebrate Drivers Spontaneously
A reward is more meaningful when it’s given right after the behavior you want to encourage, creating a stronger association in the driver’s mind between what they did and what they earned. Applause Rewards is one of the most popular features of Tenstreet’s Rewards program, allowing carriers to individually recognize drivers for great performance, thank a driver spontaneously, or even turn around a bad day with a treat. With Tenstreet, the driver receives these points instantly and can redeem them right away or save them for later, making a points-based program more convenient and immediate than buying gift cards or mailing swag.
Better Understand Your Fleet
Want to increase driver participation in a survey or training? Tie these objectives to rewards points and watch your participation rates go up, making drivers feel listened-to and helping you identify issues in your fleet so you can banish problems affecting your retention rates. It’s a win-win for driver engagement.
Stay Engaged with Drivers on the Road
We know how hard it is to stay connected and engaged with drivers who rarely make it back to HQ. A rewards program helps drivers feel connected to your team and can also encourage drivers to complete actions that solidify their ties to your team like messaging their contacts at the carrier, completing ongoing training, filling out surveys, and more.
Track KPIs Effectively
One often overlooked aspect of a truck driver rewards program is how it can help you meet your Key Performance Indicators (KPIs).
Setting truck driver incentives for following rules, such as offering rewards points for meeting goals like increased fuel efficiency, clean DOT inspections, and on-time delivery incentivizes drivers to meet them, improving your bottom line and reputation.
Market and Recruit Differently
Having a rewards program for your drivers can be a major differentiator for your company. You can highlight your program on social media or on billboards, and it gives your recruiters one more unique selling point for prospective drivers. Using a program with vendors drivers love and giving them reward points they can trade in instantly for gift cards helps the program sell itself.
Research Your Drivers’ Behaviors
Do you need to learn something about your drivers, such as what motivates them or how engaged they are in particular aspects of your company? A rewards program serves as the vehicle to gather this data. Setup small surveys or forms, such as a brief maintenance survey, and award points for responding, incentivizing participation.
Get Started with a Powerful Rewards Program
Tenstreet’s Rewards program offers all these benefits and more, letting carriers reward drivers points they can redeem instantly for gift cards at more than a dozen popular vendors like Walmart, Amazon, Target, DoorDash, Home Depot, Petco, Pilot Flying J, and more.
Click the button below to learn more about Tenstreet’s Rewards program!
