Annualized turnover rates at truckload fleets with more than $30 million in annual revenues dropped to a four-year low, according to the most recent figures from the American Trucking Associations.
Annualized driver turnover rates at large and small truckload fleets each fell 12 percentage points during the first quarter of 2015, according to the latest figures from the American Trucking Associations.
Driver turnover at truckload fleets with more than $30 million in annual revenues dropped to 84 percent on an annualized basis in the Q1 2015, the lowest level since Q2 2011. ATA’s annualized driver turnover rate for large truckload fleets hasn’t fallen below 90 percent since 2011 as low wages and poor working conditions continue to exacerbate a shortage of drivers in the industry.
For small truckload carrier fleets – those less than $30 million in annual revenues – ATA said the annualized driver turnover rate decreased to 83 percent.
Driver turnover at less-than-truckload fleets fell one percentage point to 9 percent during the first quarter, the lowest level since the second quarter of 2013.
“Clearly, the decline in driver turnover in the first quarter was significant, but what is less clear is why it dropped so much and whether turnover will continue to remain low,” ATA Chief Economist Bob Costello said in a statement.
“Drivers continue to be in high demand, so we still see the risks posed to the economy and our industry by the shortage of drivers,” added Costello. “The drop in turnover was likely, at least partially, connected to a temporary slowdown in freight movements in the quarter, as well as improved retention efforts of fleets across the board. But I would not be surprised if turnover edges higher in the quarters ahead.”
ATA: Driver turnover declines sharply in Q1 2015
