It might seem like a given but now there’s proof that better pay helps transport companies keep their truck drivers longer.
The American Trucking Associations (ATA) has released the latest turnover rate data showing an 11-percentage point drop among large truckload carriers in the U.S.
This means, among these carriers, the rate of drivers leaving their jobs was at a rate not seen since early 2017.
And, in a market crying out for truck drivers amidst the ongoing truck driver shortage, the ATA says this means the higher rates of pay being offered to drivers is leading to higher rates of retention.
Gordon Klemp, founder and president of the National Transportation Institute, which tracks driver wage trends, told U.S. publication, Heavy Duty Trucking, he agrees with the ATA’s assessment of driver wages on turnover rates.
“The drop in turnover doesn’t surprise us a bit,”
“We had 10 months where carriers were making big moves (i.e. pay increases) and, in some cases, multiple moves.
“Roughly 19% of carriers we surveyed had moved at least two times by the third quarter and some had moved three times.”
And there is further good news for truck drivers in the U.S., Mr Klemp says he expects more carriers to up their rates of pay in 2019.
“We don’t think we’ve solved the turnover problem, but a combination of increased pay and a little freight market softening reduces the noise in the marketplace,”
“Unless the economy craters, we expect to see increases in 2019.”
Are you seeing more money in your pay packet as a result of the driver shortage? Are you happy with your rate of pay?
How important is your pay rate when it comes to deciding whether to stay with your current employer or move elsewhere?
And transport companies can also have their say – does better pay help you attract more drivers? And does it equate to the recruitment of better trained/qualified drivers?
Let us know your thoughts in the Comments section below.
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Stay up to date with the latest Truck News through 2019 at heavyvehicles.com.au.