“Hiring and retaining quality drivers is one of the most persistent and important issues facing the trucking industry,” Swain says. He says this loss contains both soft and hard costs and that increasing driver retention by just a few percentage points can drive significant amounts of revenue to a company's bottom line as profit. Swain contends that the price of driver turnover is even higher, pointing to human resource studies that he says confirm an average loss of $45,000 every time an employee leaves a company. Trincon is a motor carrier consulting group based in Columbus, Ohio.įor the past several years, a wide array of industry experts has estimated that the cost of recruiting, screening, and hiring one driver ranges from $5,000 to $8,000. Then, carriers must take carefully calculated steps to retain those drivers.
They can continue to hire almost one and a half times their entire driver labor force every year at a cost of several thousand dollars each, or they can take the steps necessary to retain the services of the drivers they have already hired.ĭuff Swain, president of the Trincon Group says the best solution for motor carriers is to improve driver recruiting and screening practices to ensure that only drivers qualified for the job and psychologically matched to company culture are hired.
With annual driver turnover averaging 136% for truckload carriers according to a recent American Trucking Associations report, motor carriers face two challenges.
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