Driver Turnover Gains at Large Fleets
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Costello said he had expected the turnover rate at truckload companies to steadily improve through 2005, as it had in the first quarter, in response to companywide pay increases many carriers announced.
he driver turnover rate for large truckload companies jumped nine percentage points in the second quarter to 129%, the second highest on record, American Trucking Associations said last week.
The record turnover rate for truckload carriers with $30 million or more in annual revenue was 136% in the fourth quarter of 2004 (4-4, p. 1), but that turnover, or “churn,” rate dropped to 120% in the 2005 first quarter.
“The latest figures are . . . not the direction we thought the turnover rate [would be] heading,” said Bob Costello, ATA’s chief economist.
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