Women and Logistics reports that more than 80% of carriers are willing to consider younger drivers, providing that they are well-trained. While driver turnover exceed 100% in 3Q 2012, carriers need a solution to improve retention. Nearly 80% of carriers believe that higher wages will play a role in keeping drivers on the job over the next year.
Read the full article here.
As reported by FleetOwner Magazine, a large number of trucking companies believe that freight volumes are likely to stay flat for the coming year. Carriers are split, on the other hand, as to whether rates will increase or stay the same, indicating uncertainty in the market. These findings come from the Fourth Quarter 2012 Business Expectations Survey, conducted quarterly by consulting firm Transport Capital Partners.
TCP Partner Richard Mikes notes, “Their volume and rate outlook does not bode well for cash flows and profits in 2013 for an industry under costs and availability pressure for drivers.”
TCP Parter Steven Dutro explains how this might effect wages: “Driver pay increases will be constrained by stagnant rates [so] it will be a tough balancing act for carriers to keep drivers.”
Read the full article here.
Truckinginfo.com reports that that more than 80% of carriers would consider hiring younger drivers. This data comes from the Fourth Quarter 2012 Business Expectations Survey, conducted quarterly by the transportation consulting firm Transport Capital Partners. The study also found that larger carriers are three times as likely to invest in training entry-level drivers compared to smaller carriers. TCP Partner Richard Mikes notes the importance of driver retention, while TCP Partner Steven Dutro acknowledges that “those who are successful in properly training and developing loyalty will gain a real competitive advantage.”
Read the full article here.
The Fourth Quarter Business Expectations Survey by Transport Capital Partners shows that carriers in the trucking industry are looking to the younger generation to fill a driver shortage, FleetOwner Magazine reports. The survey found that as many as 82% of carriers are willing to higher younger drivers. According to TCP partner Richard Mikes, “Most carriers know that turnover levels have doubled since the recession, which has continued to negatively impact our industry. Past surveys have indicated that pay must go up to significantly higher levels over the long-term.”
TCP partner Steven Dutro notes that “investment in effective training programs will be essential to our industry.”
Read the full article at FleetOwner.com.
Today’s Trucking reports that carriers are willing to hire younger employees to drive their fleets. According to the recent TCP Business Expectations Survey, 80% of those surveyed would consider hiring younger workers, provided that they had proper credentials. Currently only about 30% of carriers hire entry-level drivers.
Such a change is a result of a chronic driver shortage. Accord to TCP Partner Richard Mikes,“Everyone in the supply chain needs to recognize the critical need to pay a little more to keep quality drivers moving the freight.”
Read the full article here.
From a November 11 article from BigTruckTV, slow growth in the US economy matches the trend in the trucking industry. According to TCP Partner Richard Mikes, “Carriers are not adding capacity as the economy remains relatively flat, used equipment prices go up and conservative equipment plans boost used demand.”
For TCP Partner Lana Batts, “Long term demographics still portend a shrinking driver pool, and current CSA and HOS regulations remove drivers and shorten effective hours (and pay checks) for existing drivers. Some runs that were doable in a day are requiring a sleep break.”
In an effort to increase driver retention, many carriers are planning to boost wages in the coming year, according to the Third Quarter 2012 Business Expectations Survey by Transport Capital Partners. The online publication Truckers Report claims that this is a step in the right direction, however more will need to be done in order to keep employees satisfied. Read the full article here.
FleetOwner reports that over three-quarters of carriers are planning to give drivers a raise, with close to half of them expecting to increase pay by 2-5%. These figures are based on the quarterly Business Expectations Survey by Transport Capital Partners. TCP Partner Richard Mikes notes that wages in trucking have lagged over the past year when compared to other industries. Healthcare policy is also a concern, due to uncertainty over the fate of the Affordable Care Act. Depending on who wins the Presidential election, the ACA could go into effect, or be overturned. Read the full article here.
Truckinginfo.com reports that three-quarters of carriers are expecting to increase wages in the coming year in an effort to reduce driver turnover. The information comes from the Third Quarter Business Expectation Survey by Transport Capital Partners.
Uncertainty with how the upcoming presidential election will affect health care policies is also a concern for carriers, but not as much as was reported a year ago. TCP Partner Steven Dutro claims, “Without better pay and affordable health care for drivers, carriers will not be able to increase capacity for shippers.” Read the full article here.
As reported on Refrigerated Transporter, carriers are not likely to add much capacity in the coming year. According to the quarterly Business Expectations Survey from Transport Capital Partners, the number of carriers expecting to add little or no capacity has remained between 70% and 74% for the past five quarters. TCP Partner Lana Batts cites driver shortages, coupled with CSA and HOS regulations, as having a diminishing effect on equipment purchases.
