The driver turnover rate at large truckload carriers rose to 89 percent in the third quarter, as trucking companies struggled to hire and retain experienced drivers.
The driver turnover rate increased from 79 percent in the second quarter, hitting its highest point since early 2008, the American Trucking Associations said Monday. The turnover rate at small truckload carriers jumped 10 points to 57 percent, the highest level for those companies since the third quarter of 2008, the ATA said.
The rapid increase in driver turnover and associated driver recruitment costs are considered likely to push up driver pay and truckload rates in 2012. Higher driver turnover forces trucking companies to spend more on hiring and recruiting. Costs reportedly can range from $3,000 to $8,000 per new driver.
“Due to the economic recovery, as well as regulatory factors like CSA, we are seeing the market for good, quality drivers tighten,” ATA Economist Bob Costello said.
CSA, a Federal Motor Carrier Safety Administration initiative that ties carrier safety scores to driver behavior, is tightening carrier requirements for drivers. High driver turnover is largely a truckload carrier problem. Less-than-truckload carriers have a turnover rate of only 10 percent, according to the ATA.