The turnover rate for long haul truck drivers at both big and small fleets fell 12%, hitting a four year low, according to the American Trucking Association.
Experts are stumped about why turnover has dropped off so dramatically. The ATA said, “what is less clear is why it dropped so much and whether turnover will continue to remain low.” However, they speculate that softer freight number has made drivers more interested in keeping their current driving gigs. Higher driver pay and sign-on bonuses at many fleets may have convinced other drivers to stick around longer. Port congestion on the west coast may have also played a role, according to experts.
Turnover rate hit 84% for fleets taking in over $30 million per year and 83% for fleets making less then that.
Sources:
Wall Street Journal
Transport Topics