Driver Pay & Driver Turnover = Hot Industry Topics
Two of the most popular industry topics we are asked most frequently about are driver pay and driver turnover. As carriers in the industry, you want to know how you measure up in these categories, and we agree it’s important to stay up-to-date on the trends.
At the Recruitment and Retention Conference in February, Chief Economist for the American Trucking Associations (ATA) Bob Costello shared data on both of these topics, and he added his forecast for 2017. Simply put, he shared that driver turnover would most likely increase as the year continues and carriers would continue to get creative with how they pay drivers in today’s market.
As an industry, driver turnover for truckload fleets ended up at 84% in 2016, down from 93% in 2015. Costello attributed that dip to softer freight volumes last year, and predicted that as freight volumes increase in 2017, driver turnover is expected to follow.
When it comes to driver pay, he cited the diversity in the way carriers are paying drivers today. According to ATA data, 76% of companies pay employee drivers two or more ways. This trend of paying drivers more than one way is growing in popularity industry-wide.