BOILING POINT: New Study Reveals How Quickly The Majority Of Drivers Quit
Little Rock, Arkansas – New data compiled by Stay Metrics, a company whose mission is to assist carriers in reducing driver turnover, reveals a whopping 60% of drivers hired in January 2018 did not make it a complete year with that employer.
Stay Metrics compiled hiring data from 89 carriers and found that of the 3,000 drivers hired last January only 40% were still with that carrier one year later. It further illustrates conditions some industry analysts have described as epidemic levels of driver turnover.
This issue continues to roil many trucking companies as evidenced by it ranking #3 on the American Transportation Research Institute’s (ATRI) list of top industry concerns for 2018. Stay Metrics is introducing a new retention tool called the Stay Days Table designed to illuminate where motor carriers are experiencing the most losses in the employment cycle and how to more quickly identify drivers at risk of leaving.
The new Stay Days Table serves as a “survivor” chart that shows the number of drivers hired by carriers each month and the percentage remaining at specific milestones after their date of hire—30 days, 60 days, 90 days, etc. This table allows Stay Metrics to follow specific cohorts of drivers and to show how well carriers are retaining them over time.
“We believe the new Stay Days Table demonstrates the depth and pervasiveness of the early driver turnover problem. Our clients consistently beat industry averages for overall retention and this is their Stay Days Table. It represents some of the best in the industry,” said Tim Hindes, Co-founder and Chief Executive Officer.
“With drivers leaving so early, the driver shortage cannot be effectively countered. Our current version shows data for 2018 and we plan to update the metric for 2019 and beyond to continue monitoring the industry’s progress,” Hindes said.
“Driver turnover is the biggest issue in trucking as far as safety is concerned.” – David Owen, president of the National Association Of Small Trucking Companies
David Owen, president of the more than 11,000 member National Association of Small Trucking Companies (NASTC), recently told Transportation Nation Network (TNN) in an exclusive interview he believes driver turnover is not only bad for the industry, but it’s dangerous. “Driver turnover is the biggest issue in trucking as far as safety is concerned,” Owen said.
Owen believes it’s not the small trucking companies that are the problem. “Most of my guys’ turnover rates are in the teens not in the hundreds of teens. Our average member has 14 to 15 trucks. They make more money, they run more miles and have less driver turnover,” Owen commented.
Owen placed the blame for the crises levels of driver turnover on the larger carriers. “These large public companies have to grow to satisfy their investors. In increasing their revenue they get to a point where they become cancerous. Their turnover goes up to 110% and their safety numbers are bad,” Owen opined.
His solution? “I’ve said it one hundred times, if a guy has over 75% turnover he should be forced to stop growing. I’ll guarantee you the safety numbers will get better quick,” he insisted.