
More truck drivers are looking for a new job, and they could get what they want from a new carrier as the economy improves and turnover rates increase.
In its most recent truck driver survey, Professional Driver Agency and Conversion Interactive Agency found that 41% of drivers are currently looking for a new driving job. That’s the highest percentage of job-seeking drivers since the survey has been asking the question.
Although the percentage of truck drivers looking for new opportunities remains virtually unchanged since spring, that number is up significantly from a year ago. In the fall 2023 survey, only 33% indicated they were looking for a new job.
How can carriers retain current truck drivers or poach drivers from other carriers? The top answer to that question should not be surprising: driver pay. More specifically, 82% of survey respondents said they want predictable pay. Other reasons drivers are looking for greener pastures include:
- Better home time (66%)
- Consistent miles (49%)
- Better benefits (48%)
- Better/new equipment (42%)
Money talks. In fact, more money appears to be more important than more time at home. More than half of truck drivers indicated they would not likely consider a job that offered improved home time in exchange for a reduction in pay.
Among those not looking for a new job, the majority said they are happy with where they are. However, more than one in five truck drivers not currently job-seeking suggested they may look for other opportunities once the economy improves.
Job-seeking truck drivers may get the leverage they need after the drawn-out freight recession ends. The survey points out that when freight improves, turnover will rise.
Fewer than half of surveyed truck drivers indicated they are looking for a new job now, but this group may become the majority in better economic conditions. When accounting for drivers who are waiting for a better economy, more than 60% of drivers either are actively looking for a new job or will be looking soon.
Once the freight recession lifts, carriers may find themselves with the choice of paying drivers more or losing them. Half of truck drivers expect next year to be better for them than this year. It is worth noting that the survey was conducted before the presidential election.
High turnover rates have plagued the trucking industry for decades.
A recent debate on driver shortage claims turned into a conversation about how the real problem is truck driver retention. That problem can be solved by simply improving driver pay and working conditions.
“It’s going to take the treatment of these people like human beings instead of like objects, which has been the case all these years,” said John Larkin, strategic advisor at Clarendon Capital. “Once companies figure that out, they can drive their turnover rate way down, which ends up being economically advantageous to them. They may pay a little more, but they’re spending a lot less on training and recruiting.”
Professional Driver Agency and Conversion Interactive Agency echoed that idea in their survey.
“Empathy is critical in your success of recruiting and retaining truck drivers in today’s market,” the survey states. “Mapping out what is concerning your drivers and effectively communicating your understanding of their pain points is a strategy fleets should be focused on today. How are you showing your drivers how much you value and appreciate them? If it took you longer than a few seconds to answer this question, you need to evaluate your driver retention strategy.”
The survey also suggests that carriers should know how much driver turnover is costing them. Knowing that cost will help fleets to effectively address the issue. LL
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