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The transportation industry and the overall economy move in lockstep with each other. The trucking markets tend to reflect larger economic trends well ahead of other industries. At the same time, trends that originate within the transportation space have an outsized impact on the greater economy.
Lanefinder CEO Mats Holmbäck equated the U.S. trucking industry to the locomotive for the world economy. If the industry isn’t working, nothing is working. It is crucial, then, that carriers can keep their trucks seated with well-matched, qualified drivers. Failure to do so puts the trucking industry — and the economy — in danger.
Holmbäck was driven to create Lanefinder by the conviction that the trucking industry deserves its own jobs marketplace — a space entirely dedicated to drivers and carriers, taking their unique and nuanced needs into account.
“Everybody knows the job search process is completely broken,” Holmbäck said. “It is really broken for both sides of the equation.”
When drivers and carriers rely on traditional hiring methods, both parties tend to waste a significant amount of time figuring out if the position is a good match. This leads to wasted time, lost money and frustration. It also makes mismatched hiring more likely, stretching those negative effects out into the future.
Unlike traditional, multi-industry job boards, Lanefinder enables drivers to filter openings based on their driving experience and preferences. The platform then presents drivers with only the most relevant job opportunities, filtering out roles that do not align with their goals and driving experience. Lanefinder’s powerful job search filters can be found here.
This prevents drivers from making endless phone calls to carriers and applying to jobs that do not suit them. At the same time, knowing they are qualified for the job before applying gives them a confidence boost that makes them more likely to be successful candidates.
Lanefinder’s high levels of personalization also provide big benefits for carriers, ensuring they only receive applications from qualified drivers. This minimizes the time carriers must spend vetting drivers, therefore helping them keep their trucks seated and moving.
Keeping trucks moving is top of mind for carriers — especially small and midsize companies — as they navigate the current freight recession. Lost revenue during this time not only threatens profit margins but also the very existence of some of these carriers.
While keeping trucks rolling is a top priority, cash-strapped carriers often cannot afford the upfront costs typically associated with recruiting and hiring new drivers. This is especially true when it comes to the sunk cost associated with drivers who quit or get fired before the company has had a chance to recoup their marketing and recruitment cost.
“With typical recruitment costs amounting to thousands or more per hired driver, the hiring process can be a significant financial burden for trucking companies, particularly those running on thin margins,” Holmbäck said.
Lanefinder is taking that financial pressure off carriers by offering a revolutionary pay-per-hire approach. The payment model operates similarly to a pay-as-you-go plan, allowing companies to tackle their hiring costs in small weekly payments as opposed to one large upfront sum.
“Several thousands of the companies on Lanefinder’s job platform are feeling the pinch of the current economic climate. It’s vital that they can access qualified drivers without the usual financial risk attached to recruitment.”
With Lanefinder, carriers only pay when a driver is hired and the carrier is making money. Additionally, these payments stop if a driver is terminated or resigns before recruiting costs are paid in full. This approach ensures that carriers never lose money in the process of hiring drivers.
“Starting every new driver at a loss due to recruitment fees and advertising costs isn’t a burden companies should have to bear,” Holmbäck said. “With the sheer number of drivers using Lanefinder, we’re confident we can make a significant impact, providing much-needed relief for those feeling the squeeze in today’s market.”
Today, over 8,000 companies have signed up to Lanefinder, giving the platform more trucking companies — and trucking jobs — than any other trucking-specific jobs marketplace out there, according to Holmbäck.
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