The annualized turnover rate for large truckload fleets rose two percentage points in the fourth quarter of 2015 to 102 percent, the second straight quarter it was at least 100 percent, the first such streak since 2012. For the entire year, turnover averaged 93 percent.
“This elevated turnover rate shows that the driver market remains a challenge for truckload fleets,” said ATA Chief Economist Bob Costello. “Obviously, attracting and retaining drivers remains a top concern for the industry.”
The turnover rate at small truckload carriers, fleets with less than $30 million in annual revenue, surged 21 points to 89 percent in the final quarter of 2015. Despite this surge, churn at smaller fleets is still six points lower than during the fourth quarter of 2014 and averaged just 79 percent for the year.
“The rising turnover rate, coupled with anecdotal reports from carriers, shows what a premium there is on experienced, safe drivers,” Costello said. “And those drivers have and will continue to benefit from rising wages and benefits.”
The turnover rate at less-than-truckload carriers rose one point to 11 percent in the final quarter and averaged 11 percent for all of 2015.