Turnover Rates Spike for Small Carriers
ARLINGTON, VA. — Small truckload fleets saw a 16 percent hike in turnover rates during the first quarter of 2012, reported the American Trucking Associations yesterday.
It brings the turnover rate to 71 percent for small carriers ($30 million in revenue or less), the highest level since the second quarter of 2008.
The annualized turnover rate for large carriers rose two points, bringing the total to 90 percent and the highest since the first quarter of 2008.
“We were surprised that the turnover rate dipped in the fourth quarter,” said ATA Chief Economist Bob Costello.
“This report of a slight rise at large fleets and a significant increase at smaller fleets matches up with what we hear regarding the health of the industry, the tightening of the labor market for drivers and demand for good, quality, experienced drivers.”
And the turnover rate at less-than-truckload fleets? Still low at 8 percent, but up one percentage point from the previous quarter.
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