Trucking Industry News: Driver Pay on the Rise, but Turnover Remains Stagnant – How to Address the Issue

Trucking Industry News: Driver Pay on the Rise while Turnover Stay Stagnant

Key Takeaways:

  • Driver turnover in the trucking industry remains constant, with high rates of 89% for large truckload carriers and 73% for smaller carriers.
  • Despite the high turnover, driver pay has been increasing in the industry.
  • Experts believe that trucking companies need to focus on retention strategies in order to combat the ongoing turnover issue.

The trucking industry is facing a classic case of “one step forward, two steps back” as driver pay continues to rise while driver turnover rates remain stagnant. According to recent reports, the turnover rate for large truckload carriers ended last year at a jaw-dropping 89%, while smaller carriers had a slightly better but still concerning turnover rate of 73%.

On the positive side, driver pay has seen an increase, which has been a welcome change for many hardworking truckers. Higher pay can certainly attract new drivers to join the industry, but it doesn’t necessarily solve the problem of retention. As much as better compensation is appreciated, there are other factors that contribute to driver turnover, such as long hours on the road and extended time away from home.

Industry experts believe that trucking companies should focus on implementing effective strategies to improve driver retention. While higher pay can be a part of the solution, it’s not the only answer. Companies should consider providing better work-life balance, more flexible schedules, and improved driver amenities on the road. Creating a positive and supportive work environment can also go a long way in reducing turnover rates.

Conclusion:

As the trucking industry continues to grapple with high driver turnover rates, it is evident that a multi-faceted approach is needed to address the issue. While higher pay is a step in the right direction, it is crucial for companies to prioritize driver retention strategies that address concerns beyond just compensation. By ensuring that drivers feel valued, supported, and well-cared for, the industry can work towards reducing turnover and creating a more stable and productive workforce.

Hot Take:

It’s time for the trucking industry to put the pedal to the metal when it comes to driver retention. Raising driver pay is great, but it’s time to go the extra mile and create an environment that values and supports our hardworking truckers. Let’s shift gears and focus on building a more stable and committed workforce in the trucking industry.



This blog post has been generated using the information provided in the article:”What Drivers Want: How fleets show respect with custom apps” by “Kevin Survance, contributor”.

Check it out at: https://www.ccjdigital.com/workforce/recruiting-retention/article/15543231/how-fleets-show-respect-with-custom-apps.

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