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Friday, March 24, 2023

Turnover at Large Truckload Fleets Rose to 102% in Fourth Quarter

Churn Rate Averaged 93% for 2015

The annualized turnover rate for large truckload fleets rose two percentage points in the fourth quarter of 2015 to 102%, the second straight quarter it was at least 100% – the first such streak since 2012.

โ€œThis elevated turnover rate shows that the driver market remains a challenge for truckload fleets,โ€ said ATA Chief Economist Bob Costello. โ€œObviously, attracting and retaining drivers remains a top concern for the industry.โ€

The turnover rate at small truckload carriers โ€“ fleets with less than $30 million in annual revenue โ€“ surged 21 points to 89% 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%.

โ€œThe rising turnover rate, coupled with anecdotal reports from carriers, shows what a premium there is on experienced, safe drivers,โ€ Costello said. โ€œAnd those drivers have and will continue to benefit from rising wages and benefits.โ€

The turnover rate at less-than-truckload carriers rose one point to 11% in the final quarter, and averaged 11% for all of 2015.