ARLINGTON, Va. – The American Trucking Association (ATA) said the annualized turnover rate for large truckload fleets increased by two percentage points to 102% during the fourth quarter of 2015.
“This elevated turnover rate shows that the driver market remains a challenge for truckload fleets,” said ATA chief economist Bob Costello. “Obviously, attracting and retaining drivers remains a top concern for the industry.”
The rise indicates the second straight quarter turnover was at least 100%, the first such streak since 2012, and there was an average churn rate for the year of 93%.
Small truckload carriers saw a turnover rate increase of 21 points, hitting 89% in the final quarter of 2015, but remained six points lower than it was during the fourth quarter of 2014, and averaged 79%.
“The rising turnover rate, coupled with anecdotal reports from carriers, shows what a premium there is on experienced, safe drivers,” Costello said. “And those drivers have and will continue to benefit from rising wages and benefits.”
Less-than-truckload carriers turnover rose one point to 11% during the same quarter, averaging the same percentage for the full year.