Transport Topics recently reported on the findings of TCP’s fourth quarter Business Expectations Survey that found that 51% of carriers are planning to hiring younger drivers to offset recruiting difficulties and driver turnover. Recent reports from the American Trucking Associations show that driver turnover is at 100%. Over a third of carriers responding to the survey already hire younger drivers and “carriers are looking for ways to attract quality, long-term drivers”. Click here to read the full article.
February 4, 2013 -
More Carriers Willing to Hire Younger Drivers to Combat Driver Turnover
February 1, 2013 -
Mikes recently interviewed about transportation job cuts
TCP Partner Richard Mikes was recently interviewed regarding Daimler Chrysler’s plan to cut 1,200 jobs at Charlotte-area Freightliner plants due to “softening economic conditions”.
“The trucking industry faces serious headwinds in 2013. Trucking doesn’t move unless the economy moves,” said Richard Mikes, TCP Partner. “Obviously, the drop in GDP in the fourth quarter is not good.” A shortage of qualified drivers and new government regulations are additional hurdles in the industry.
Daimler stated that they believe the economy will improve in 2013 and hope for the lay-offs to be temporary.
Click here to read the article and listen to the broadcast.
January 24, 2013 -
Carriers Hesitate to Replace Equipment
As reported by Truckinginfo.com, the Fourth Quarter 2012 Business Expectations Survey by Transport Capital Parters finds that most carriers plan to be very conservative when it comes to replacing fleet equipment. The survey found that 60% of smaller carriers and 45% of larger carriers plan to replace less than 10% of their fleets. TCP Partner Richard Mikes noted, “Capacity additions have been constrained for some time and linked to shippers’ desire to add dedicated capacity to assure service.” Larger carriers with “adequate profit margins” are more likely to grow, remarked TCP Partner Steven Dutro.
Click here to read the full article.
January 16, 2013 -
Survey Shows Uncertainty in 2013
The Monitor Daily reports that uncertainty in the US economy translates to the trucking industry. According to the Fourth Quarter 2012 Business Expectations Survey by Transport Capital Partners, carriers are evenly spilt as to whether rates will increase or decrease in the coming year. TCP Partner Richard Mikes notes the effect of Washington politics, while Partner Steven Dutro addresses how the economy may affect driver pay.
Read the full article here.
January 16, 2013 -
Carriers Unsure What to Expect in 2013
The Motor & Equipment Manufacturers Association reports that an uncertain economy paints a cloudy picture for the trucking industry. Carriers are split as to whether rates will increase or stay flat, and only 21% of carriers reported rate increases over the past three months. This does not bode well for drivers’ pay, notes TCP Partner Steven Dutro. “Driver pay increases will be constrained by these stagnant rates. It will be a tough balancing act for carriers to keep drivers. Investment in capacity is also likely to continue to slow,” he said.
Read the full article at MEMA.org.
January 16, 2013 -
Carriers Uncertain About Year Ahead
As Washington continues to muddle through the fiscal crisis, carriers are unsure about how government policies might affect them in 2013. The latest Business Expectations Survey from Transport Capital Partners shows that 45% of carriers believe that volumes will remain flat, whereas 44% believe rates will increase and 46% predict that rates will stay the same.
TCP Partner Richard Mikes notes that “continued high fuel costs, inadequate fuel surcharges, and some shippers not recognizing the impact of delays on schedules with constricted hours-of-service rules will force and increase in distressed situations.”
Read the full article at TruckingInfo.com.
January 16, 2013 -
Sluggish Economy Continues to Weigh on Carriers
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.
January 9, 2013 -
Carriers Willing to Hire Younger Drivers
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.
January 9, 2013 -
Trucking Companies Look to a Younger Workforce
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.
January 8, 2013 -
Trucking Industry Aims for a Younger Workforce
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.
