More U.S. truck drivers stayed with their employers in the first quarter of 2015 and annualized turnover rates declined to their lowest point in four years, reported the American Trucking Associations. The Wall Street Journal covered the issue in a July 14 article, saying:
The turnover rate was down to 84% for operators of truckload fleets with more than $30 million in revenue in the first quarter and 83% among those with smaller fleets. Both measures were 12 percentage points less than the turnover rate in the previous quarter.
Compare that to driver turnover in other recent years, when it’s typically stayed above the 90 percent mark, said Bob Costello of the American Trucking Associations in the article. He told the Wall Street Journal he did not expect to see such a dramatic improvement in the first quarter alone.
I didn’t expect it to go up a lot, but I didn’t expect it to fall to its lowest level for large carriers in four years,” he said.
He and others credit — at least in part — recent raises at some trucking companies for the positive trend, which impacted small and large trucking companies alike.
Read more of the Wall Street Journal article here.
Image from Bloomberg News