Truck Driver Shortage and High Turnover Rate Could Spell Trouble for Those Who Share the Road

The first quarter of 2017 showed truck driver turnover for large carriers (revenues more than $300 million) at a rate of 74 percent. While most businesses would blush at such a high number—even the notoriously transient restaurant/hospitality industry only averaged 72.9 percent in 2016—the trucking industry has actually experiencing a LOW volume of turnover over the past two years, relative to other recent years. This all leads to the unspoken question of, “What’s considered a HIGH rate of turnover for freight carriers?” The answer may surprise you. 2012 and 2015 showed rates that exceeded 100 percent—106 percent and 102 percent to be exact—meaning that many companies were completely changing out their driver pool within a year’s time and then some. It’s a sobering fact to consider as you’re on the highway going 65 ...