Over 80 percent of carriers surveyed by Transport Capital Partners’ indicate they willing to support younger, properly trained drivers entering the driving pool.
With carriers experiencing an increase in driver turnover, carriers are looking for new ways to attract quality, long-term drivers, according to the survey.
“Most carriers know that turnover levels have doubled since the recession which has continued to negatively impact our industry,” says Richard Mikes, TCP Partner. “Past surveys have indicated that pay must go up to significantly higher levels over the long-term. Once construction and manufacturing begin to ramp up, many drivers will leave the wheel for more family-friendly time at home. Driver attraction and retention will continue to be an important issue for carriers.”
Larger carriers are more inclined to spend the time, money, and effort to develop entry-level drivers than smaller carriers (38% vs. 12%). In the future, 51 percent of the carriers expect to be utilizing inexperienced, entry-level drivers and training them in-house.
“Investment in effective training programs will be essential to our industry,” states Steven Dutro, TCP Partner. “Those who are successful in properly training and developing loyalty will gain a real competitive advantage. Developing the proper programs and corporate culture should be considered a critical investment in the future.”
Regardless of how carriers find drivers, they all acknowledge they are going to have to pay them more. Sixty-six percent expect that wages will increase up to 5% more.
“Current operating margins allow little room to raise driver compensation levels,” says Mikes. “Everyone in the supply chain needs to recognize the critical need to pay a little more to keep quality drivers moving the freight.”
Almost 80 percent of carriers expect that wages will increase in the next year.
