The American Trucking Association says that if carriers could hold onto new truck drivers for a mere 90 days, overall truck driver turnover rates would drop dramatically.
Keeping New Drivers 90 Days To Majorly Impact Trucker Turnover Rates
According to the ATA’s chief economist Bob Costello, if carriers were able to retain all newly hired truck drivers for just 90 days, the overall truck driver turnover rates would plummet by about half. This would put the current rate of 102% truck driver turnover at large carriers at a much more cost effective 51%.
Because of increasing wages and competition for well-qualified employees, even truck drivers with very little experience are quick to jump ship and move on to another trucking company.
Weak Freight Demand Expected To Slow Driver Hiring
Experts warn, however, that while it may be a truck driver’s market now, weak freight demand brought on by the strong U.S. dollar and a decrease in shale energy exploration may slow down the need to hire drivers in the coming months and years.