Booming Freight Market Creates Ideal Time to Raise Rates, Driver Pay, McLeod CEO Says

With the freight market booming and truck capacity constrained, now is an ideal time for fleets to fine-tune their freight networks, push for higher rates and increase driver pay, McLeod Software’s CEO said. “Everybody has all the freight they can handle,” Tom McLeod said Oct. 1 at the trucking software company’s annual user conference here. Fleets can take advantage of this “unprecedented” environment by laying the groundwork for long-term success, he said That starts with asking shippers for freight rates that are high enough for carriers to be reasonably profitable and invest in their businesses. It also is a good time for fleets to take steps to address their challenges with driver recruiting and retention.“Go ahead and raise driver pay,” McLeod said. “Driver pay has lagged behind other industries such as construction and manufacturing. That’s one of the reasons for the driver shortage.”