What are your thoughts on this...

Does anyone know if any of the more reputable and well established companies require an "escrow'?

It always seems like the newer companies require it and they're usually start-ups.

Names?

 

Now to be fair... the only people I have seen pay into an escrow are one's with a sketchy record. Accidents on their record or they've had 25 different jobs in the last 5 years.

 

You are correct in that it is not anything to worry over..
Because you will NEVER see that money upon seperation.

 

I know of 0 legitimate trucking companies requiring an escrow from a new hire.

 

50$ a week is a little steep, but $1000 is fair. And refundable! You're being trusted with a very expensive piece of equipment with very low supervision. Put your money where your mouth is and hammer down.

 

I thought this was illegal, being an employee, not a contractor, you have no obligations to repair or pay for damage to the truck.

 

I don't want to split hairs or speak to my personal opinion...I just wanted to tell this guy that placing $50 a week into an escrow account is seriously not a big deal when you consider you have a job opportunity lined up that you can make $1000+ a week.

I don't know anything more about this guy or his company. All I know is that if he feels hindered by not having experience in over 4 years, and a company is requesting escrow of $50 a week and has hired him, who am I to tell him anything else other than that $1000, whether you get it back or not, seems insignificant. He can use my opinion for whatever it's worth to him, or not.

I agree escrow shouldn't be required for employment, but I also think that wasn't his question.

 

That was precisely his question..

 

Uhh... I guess you didn't know it, but that's literally my job. And no, I *don't* hire job-hoppers unless there is a good, detailed explanation to go along with each departure. I also have no problem filling the trucks at my company, because drivers aren't leaving in droves. Why not? Because we are honest and up-front about working here, we don't just tell you what you want to hear, so when your paycheck or next dispatch comes in there are no surprises.

No, you're not going to make $2,000 every week. No, you're not going to get a brand new truck (not at first, but you eventually will). And bus fare? What is this, 1965? They will most often fly here, but we prefer a one-way rental car so they can bring more stuff (those are a little hard to come by these days). Those coming here get their first load home with extra time built in so they can get their stuff and make the truck theirs. Its a good-faith move that you won't find most places.

The number one mistake companies make in recruiting is they ignore the other half of the equation, retention. Find out what you're doing right and where you can improve. Fix the problems, and they don't leave for those reasons anymore. Next up, stop panicking when one truck is vacant. Take your time and choose the right applicant to fill the seat so you won't have to scramble in a few weeks after bamboozling someone into the seat in the first place. This is where you find yourself saying things like "(if you) don't hire people like that... you'd never fill a truck" and "Have you looked at the crop of so called driver's out there?" Seriously... STOP hiring people like that, and your worries will go away quickly. Stop sugar-coating things to get a driver in the seat. Good companies are hard to find because they aren't advertising everywhere for new drivers.... they don't have to. The recruiting department's phone number isn't plastered on the back of every trailer because it doesn't need to be. And when those advertising expenses and graphics expenses drop, there is more money left over to do things like pay for satellite radio subscriptions for all the drivers, or making improvements to the driver's lounge. Won't need to steal an escrow from the drivers, either... because they aren't running as fast as they can to get out of your truck.

 

My opinion is that escrow is a normal business function. Can it be shady? Sure. Maybe if this guy told us who the company is, we could better decide if it's shady or not.

Your opinion is escrow is not normal in trucking (I don't disagree). However, it's not completely abnormal either. We need more information. Maybe I should have started there.

It's cheaper to retain good employees than it is to find, train, and hire more. That's a tough job.