Forward Air announces rate increase for Independent Contractors
Forward Air today announced a per-mile rate increase to independent contractors operating in the TLX (Truck Load expedited) and LTL (Less Than Truckload) operating divisions. Independent Contractors in the TLX division will receive a ten cent per loaded mile increase, while contractors in the LTL division will receive a three cent per loaded mile increase. Additionally, it was announced that independent contractors operating more than one unit, will receive the tenure rate (up to five cents per mile), for their oldest unit across all of their units.
“This increase is not only a means to help retain and appreciate our current fleet, but is critical to our ability to attract new Independent Contractors into our best-in-class IC offerings. With the ELD mandate imminent, we have two products that have been proven profitable since we originally rolled out ELD’s fifteen years ago – our LTL product, where our IC’s run from one Forward Air terminal to another, mostly at night, amassing anywhere from 3000 (solo) to 5800 (team) miles a week on average. And our TLX product, where our IC’s run point to point, and see anywhere from 2800 miles (solo) to 5000 miles (team)”
“I have been told time and time again, that our IC offerings with earning potentials ranging from $188,000 (solo year one) to $406,000 (team) are pretty much unheard of from drivers seeking the consistency and reliability that we can provide – and I see that in our best-in-class retention rate.”
“We are committed to continuous monitoring of rates to ensure our IC partners remain profitable and satisfied. IC compensation is constantly evaluated and we have a core belief that any pricing increases shared with customers, should be shared with our IC partners as well.”
Division Overview: Forward Air’s Dedicated Premium Truck Load Services division offers prospective Solo Owner Operators a regionalized over-the-road experience by combining significant per-mile compensation, best-in-class weekly miles, and highly sought-after dedicated opportunities. We are committed to improving the quality of life of our drivers through the combination...
Division Overview: Forward Air’s Dedicated Premium Truck Load Services division offers prospective Team Owner Operators a unique over-the-road experience by combining significant per-mile compensation, best-in-class weekly miles, and highly sought-after dedicated opportunities. We are committed to improving the quality of life of our drivers through the combination of ...