During the first half of 2018, truck driver turnover was at a horrifying 98%. The freight and carrier industries were scrambling. However, through higher pay, turnover has decreased to 87%– still high, but an incredible 11% difference!
The trucking industry tackled their extremely high turnover with higher pay, more than once sometimes, in a short period of time. This worked and drivers began to remain with their current carriers longer. Freight markets also began to soften in the third quarter of 2018, also leading to a lower turnover.
While this increase in retention marks good news, industry experts don’t see the labor shortage going away any time soon. The difference between the highest and lowest paying carriers has, unfortunately, increased.
Tactics You Can Take
Fleets are combating turnover with better pay, but any professional truck driver will tell you that work conditions are difficult, to say the least. The hours are long, drivers are often away from home for multiple days including holidays, and the hours . A driver’s pay often relies on how productive they can be during their hours, and productivity is affected by traffic jams or delays at docks.
The trucking industry is working hard to create better working conditions. A practical strategy your trucking company can take to fight employee turnover is retention software like Refered. With Refered, your drivers get incentives for referring quality employees to your company. Contact us and speak to one of our specialists today about how Refered can make a difference in your company.