Please ensure Javascript is enabled for purposes of website accessibility

Walmart Hiring 500 More Truck Drivers to Handle Online Sales Growth

By Daniel B. Kline - Mar 9, 2020 at 5:23PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The company is paying well for experienced operators.

Walmart (WMT 0.15%) plans to hire 500 more truck drivers for its private fleet, primarily on the East and West Coasts, to help meet the increased demand from its growing e-commerce business.

In a highly competitive market for experienced drivers, Walmart has been attracting applicants by the simple strategy of offering better wages than its rivals. Walmart pays drivers an average of $87,500 per year, and says it plans to improve that in 2020.

A Walmart truck driver.

Walmart plans to hire 500 more drivers. Image source: Walmart.

How is Walmart paying truck drivers?

The retailer pays for more than mileage driven. It also offers training pay and activity pay for times when trucks aren't moving (like when they are is being loaded or unloaded).

Walmart also gives its drivers weekly schedules, which allows them to plan for when they won't be home. And it awards its drivers safety bonuses for meeting its operating standards.

Despite the national shortage of truck drivers, Walmart holds its new hires to relatively high standards. It requires them to have at least 30 months of experience over the past three years with a clean driving record.

Experienced truck drivers have leverage in the job market, and Walmart understands that to get the number of them it needs, it has to offer them a good deal. The company appears to be doing that both in pay and in how it treats drivers. That should allow the retailer to grow its fleet as needed -- and that need could expand significantly in the coming years.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Wal-Mart Stores, Inc. Stock Quote
Wal-Mart Stores, Inc.
WMT
$123.91 (0.15%) $0.19

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
336%
 
S&P 500 Returns
115%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 06/27/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.