Truckload driver turnover higher in 1Q
After a one-quarter reprieve, the annualized turnover rate for large truckload fleets rose slightly in the first quarter of 2012, while turnover at small truckload fleets surged, according to the American Trucking Associations. The turnover rate for large truckload fleets rose two percentage points to 90%, its highest point since the first quarter of 2008. At truckload fleets with less than $30 million in annual revenue, turnover soared 16 percentage points to 71% in the first quarter -– the highest level since the second 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.”
Turnover at less-than-truckload fleets remained low at 8% but was up one percentage point from the previous quarter.