Although there’s a biting shortage of certified truck drivers, this shouldn’t cause you sleepless nights. Recruiting top talents and enticing them to stay makes your company bulletproof.
Going by the high number of trucking jobs, you can tell there’s a shortage of certified drivers on the market. Industry insiders posit that the deficit currently stands at 50,000 drivers. The figure is expected to more than triple by the year 2026.
The popularity of online shopping is the main driving force behind the shortage of truck drivers. Large e-commerce stores such as Amazon are snapping up drivers at some unprecedented rates. Grappling with driver shortages can hurt your business and eat into your bottom line.
Not Solutions in Sight
As it currently stands, demand for drivers is set to overrun supply for the year to come. It would appear that the deck is stacked against younger drivers looking to join the thriving trucking sector. To be a part of the $700 billion a year industry, you need to be at least 21 years of age. In an industry where the average age of a driver is about 49 years, this is a considerable disadvantage.
Although you can get a CDL license at 18 years, you need to be 21 to operate between states. That makes it difficult for the trucking sector to attract the youth as there’s a considerable wait time. Although efforts are underway to remedy this legislation, it might take a while to bear fruits and end the shortage. Therefore, it’s imperative that you take measures to keep the current situation from ruining your business.
Work on Your Driver Retention
Ironically, the trucking sector has one of the highest employee turnovers in the world. In some instances, the turnover rate can be as high as 98 percent, meaning that companies have to recruit an entirely new workforce each year. With the cost of replacing a driver working into tens of thousands of dollars, this places considerable pressure on such companies.
It’s therefore, in your best interest to hold on to the talents that are on your payroll. Despite moving over 70 percent of the country’s ground freight, truckers often feel underappreciated and undervalued. As a result, they are quick to sever ties with an employer they feel doesn’t appreciate their services. Don’t be kind of employer as you will soon start feeling the pinch.
Create a Conducive Work Environment
There’s a raging wage war going on in the trucking sector in which drivers are emerging the winners. Trucking companies are willing to pay top dollars to fill their ranks with qualified and reliable drivers. Naturally, offering handsome pay packages draws drivers to such companies like moths to light. After all, who doesn’t like to secure their financial future?
Instead of fighting such development, you should roll with them. Sure, your wage bills will be a tad higher, but the return on investment will more than compensate for the difference. Loyal drivers will be gentle on your machines, have fewer traffic infractions, and lower fuel consumption, saving you a ton of money in the process.
There’s a biting shortage of truck drivers in the country, and this can spell bad news for trucking companies. That makes recruiting truck drivers a costly affair for the players in the industry. Hiring credible drivers and enticing them to stay is the best way to keep this shortage from ruining your business.