Driver Turnover Rate Surges Past 100% at Large Truckload Fleets
The annual driver turnover rate surged in the second quarter, breaking the 100% barrier at large truckload fleets for the first time in more than four years, American Trucking Associations said Wednesday.
For large truckload fleets with more than $30 million in revenue, driver turnover rose 16% to 106%, the highest level since the fourth quarter of 2007. The last time the turnover rate was over 100% was in the first quarter of 2008.
The turnover rate at smaller truckload fleets rose to 86%, a 15-point jump from the previous quarter. The spike put turnover at its highest level since the third quarter of 2007.
The turnover rate for less-than-truckload fleets averaged just 9% in the second quarter, up from 8% in the previous quarter.
“We continue to see steady, albeit sluggish, growth in freight volumes, which increases demand for drivers,” said ATA Chief Economist Bob Costello.
“That, coupled with continued pressure on fleets to improve their safety records as a result of regulatory oversight changes, is increasing competition among carriers for drivers with clean histories,” he said in a statement.
