Forward Air's New Comp Plan Addresses Obstacles In Congested Markets
Forward Air (NASDAQ: FWRD ) announced Tuesday a new way to tackle the trucking industry's capacity headwinds. The Greeneville, Tennessee-based asset-light trucking and logistics company will now provide additional compensation to team and solo owner-operators depending on the destination of the load. The "destination-based" pay increases for fleet partners in its less-than-truckload and truckload segments are designed to incent capacity providers to carry loads into congested markets that present additional challenges for drivers. "We are excited to make this adjustment, as it helps level-set supply and demand," said Tim Parker, SVP of linehaul logistics. "Some areas of the country are less attractive for drivers due to factors such as urban road congestion, crowded fuel stops, limited parking or frequent road construction. These factors can lead to reduced utilization and higher equipment maintenance costs." The new model raises … Full story available on Benzinga.com
Forward Air's New Comp Plan Addresses Obstacles In Congested Markets
Forward Air (NASDAQ: FWRD ) announced Tuesday a new way to tackle the trucking industry's capacity headwinds. The Greeneville, Tennessee-based asset-light trucking and logistics company will now provide additional compensation to team and solo owner-operators depending on the destination of the load. The "destination-based" pay increases for fleet partners in its less-than-truckload and truckload segments are designed to incent capacity providers to carry loads into congested markets that present additional challenges for drivers. "We are excited to make this adjustment, as it helps level-set supply and demand," said Tim Parker, SVP of linehaul logistics. "Some areas of the country are less attractive for drivers due to factors such as urban road congestion, crowded fuel stops, limited parking or frequent road construction. These factors can lead to reduced utilization and higher equipment maintenance costs." The new model raises … Full story available on Benzinga.com