Near the end of 2018, Walmart announced it plans to raise trucker salaries to approximately $87,500. That is in stark contrast to the current median clocking in at roughly $44,281. Now if your first thought is to quit your job immediately and apply to drive for Walmart, I don’t blame you. The salary is impressive, and when coupled with the benefits that boast 21 days PTO, two days off each week, and impressive quarterly bonuses, you’re looking at a pretty ideal job offer.
The Trucker Shortage
So what prompted Walmart to offer truckers almost double what the industry average? Simply put, the trucker shortage.
With the way the industry stands, there are not enough truckers to meet demand. As a supply chain manager, without a means to get a product from Point A to Point B, your hands are tied.
Unfortunately, the trucker shortage is coming at an extremely inconvenient time, especially true for retailers experiencing a huge volume of e-commerce sales like Walmart. With the increased popularity of online shopping, an influx of truckers is needed as shippers start using different over the road modes of transportation and service types. Truckers that can be flexible to adapt to the way that the industry is evolving are essential.
Bob Costello, Senior Vice President of the American Trucking Associations, did a study and found that the shortage could be as significant as 175,000 by 2026. As reported by John Gallagher at FreightWaves, the Bureau of Labor Statistics believes that it isn’t a lack of talent causing the trucker shortage, but the low wages offered by most. In order to combat the shortage, we need to pay truckers higher salaries. This downward trend can’t continue without dire consequences, and it’s precisely why Walmart is upping the ante.
It is also why Walmart has had to pare back on rigorous the hiring process is. Becoming a trucker at Walmart, a feat that was once almost as difficult statistically as being accepted to Harvard University, can no longer operate in such exclusivity. Walmart has announced that in spite of the trucker shortage, it needs a minimum of 900 new drivers to join their fleet this year, in addition to the 1,400 that they recruited in 2018. For Walmart to continue being one of the biggest players in retail and meet its growing customer demand, it needs more truckers on the road.
Use Blockchain to Protect Your Driving Record
So what does it take to help you land the job at Walmart? It all comes down to experience and a proven history of driving safely.
Let’s be clear about one thing– trucking is anything but easy. We’re talking about long hours, staying awake for extended periods, and enormous amounts of responsibility resting on your shoulders at all times. Additionally, as per our CEO John Monarch, truck drivers are often unfairly blamed for missteps in the supply chain. Without a way to prove what happened, they are usually the ones to suffer the consequences for things like misplaced or damaged shipments. In order to prepare for any and all scenarios, truckers need end-to-end visibility to protect themselves.
Blockchain will be hugely beneficial for anyone in the trucking industry. When you have easily accessible data about your safety record, the number of successful trips you have completed, how many years you have been driving, and so on, you can use that data to get the best and most exclusive jobs on the market. When integrated correctly, it can help truckers negotiate better pay and aid companies in recruiting the best drivers. This, in turn, will lead to more truckers on the road, eventually making the trucker shortage a thing of the past.
Equip Yourself with Blockchain and Get the Job You Want
Take advantage of blockchain’s end-to-end visibility and immutable ledger to showcase both your experience and reliability. Due to the trucker shortage, your services are in high demand and blockchain can add that extra feather to your cap. If you’d like to learn more about blockchain and the impact that it will have on the trucking industry, get in touch with us today!