STPS

Is Paying Drivers Daily Good for Trucking Companies?

In the trucking industry, being a truck driver can be difficult. They have to face long hours of driving, unexpected schedules, and late payments. As a result, truck drivers may struggle with managing their finances, which leads to anxiety and financial uncertainty. Paying daily, or at least paying weekly, helps companies with driver retention. Many trucking companies are resorting to paying daily as a solution to these problems.

Why should trucking companies look to pay more frequently?

There are several advantages to paying truck drivers more regularly. By providing them with daily access to their wages, they can better control their finances, pay bills on time, and prevent the anxiety and fear that comes with late payments. Furthermore, with paying daily, truck drivers can obtain their earnings immediately after completing a job, instead of needing to wait until the end of the month or week. This is extremely crucial for truck drivers who work ridiculous hours or have surprising fees while they’re on the road.

Pros of paying daily:

Truck drivers and trucking companies benefit from paying daily in a variety of ways. It offers greater financial stability, versatility, and responsibility for truck drivers. They can see precisely the amount they earned daily and record their income more consistently. This can help them spot any inconsistencies in their earnings and guarantee they’re getting paid correctly for the work they have performed. It also improves driver retention. The drivers will get used to getting paid every day and won’t want to leave for another job that only pays them once a week or once a month. Furthermore, if drivers are closely monitoring their earnings, paying daily can help to reduce the risk of payroll fraud.

Cons of paying daily:

Nevertheless, paying daily has its disadvantages. The administrative burden placed on trucking companies is one of the most significant challenges. Paying daily necessitates frequent payroll processing and tracking, which can be costly and time-consuming. Furthermore, paying daily could require additional technological investments, such as software to automate taking and payroll processing. 

Does the company need to process paying daily in-house or have the employee outsource?

When it comes to implementing paying daily, trucking companies have two options: do it themselves or use a service like us, Superior Trucking Payroll Service (STPS). Managing to pay daily in-house necessitates a significant time, technology, and resource investment. Furthermore, trucking companies may find it difficult to manage.

On the other hand, using a service like STPS can be a more efficient and cost-effective solution. STPS would happily be able to process paying daily if needed. STPS handles everything from earnings processing and tracking to daily paycheck distribution, allowing trucking companies to focus on their core business. Furthermore, STPS flexible and adaptable solutions that can be tailored to the specific needs of each trucking company.

STPS can help you with paying daily which can provide truck drivers with greater financial stability, flexibility, and accountability. STPS can help truck drivers improve their quality of life and reduce the stress and uncertainty associated with delayed payments by giving them access to their earnings on a daily basis. Learn more information by looking on our services page or contact us directly.

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Written by Tessa Braybrook

Tessa joined Superior Trucking Payroll Service in September 2022. She loves to write and make videos which made her a great asset to the team in her marketing position. 

Before working at Superior Trucking Payroll Service she worked in IT at GVSU which gave her the skills to problem-solve with customers over the phone. 

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