ANN ARBOR, Mich., Sept. 30, 2014 /PRNewswire/ — Con-way Inc. (NYSE: CNW) announced today enhancements to its compensation package for drivers at its less-than-truckload (LTL) carrier, Con-way Freight. These changes provide for increases in current pay rates while reducing the time it takes for drivers to reach top pay scale.
The enhancements, which will take effect on January 4, 2015, increase pay for Con-way Freight drivers system-wide while aligning all locations across the network to pay rates competitive for their geographic market. With respect to the change in progression to top scale, all locations will be aligned to a common schedule in which drivers will reach top scale at three years from date of hire. On January 4, all eligible drivers will be adjusted to the applicable new pay rate commensurate with their service time.
Over the past several years, the company has been evaluating and implementing phased changes to its compensation program to reflect evolving market conditions and ensure competitive pay structures for drivers. With a final step in this multi-year realignment process completed, the company strengthens its ongoing efforts to attract and retain quality drivers, noted Douglas W. Stotlar, president and CEO of parent company Con-way Inc. This announcement follows the announcement last month of an enhanced driver pay package at sister company Con-way Truckload, which provides nationwide dry-van full-truckload services.
“Our LTL company, along with Con-way Truckload, is facing the most pronounced driver shortage we’ve ever seen,” Stotlar noted. “Con-way Freight provides premium service, and the skill and professionalism of our drivers enables us to keep the promises we make to our customers. This action benefits our people, our customers and our shareholders, and is supported by the improved profitability and efficiencies being delivered by Con-way Freight’s 21,000 employees.”
Greg Lehmkuhl, president of Con-way Freight, noted that today’s actions complete an extensive effort to transition the company from multiple complex legacy pay structures to a streamlined, market-competitive compensation program. “We are committed to being the employer of choice for professional drivers. Our simplified pay structure enables us to more effectively align driver pay with the market-based cost of labor, and provides increased flexibility to react to market conditions over time so we can ensure our drivers’ compensation remains competitive,” said Lehmkuhl.
About Con-way Inc. — Con-way Inc. (NYSE: CNW) is a $5.5 billion freight transportation and logistics services company headquartered in Ann Arbor, Mich. Con-way delivers industry-leading services through its primary operating companies of Con-way Freight, Con-way Truckload and Menlo Logistics. These operating units provide high-performance, day-definite less-than-truckload (LTL), full truckload and multimodal freight transportation, as well as logistics, warehousing and supply chain management services. Con-way also operates a trailer refurbishing and manufacturing company which supplies trailing equipment to the company’s trucking fleets. Con-way Inc. and its subsidiaries operate from more than 500 locations across North America and in 20 countries. For more information about Con-way, visit www.con-way.com.