“While still fairly high, the decline in turnover is reflective of the softening in the freight economy during the first quarter,” said ATA Chief Economist Bob Costello. “Should the freight economy witness an uptick during the second half of the year, we should see both turnover and demand for drivers rise as well.”
Turnover at large truckload fleets fell 13 points in the first quarter to 89% – the lowest it has been since the second quarter of 2015. For all of 2015, turnover averaged 93%.
At smaller fleets – carriers with less than $30 million in annual revenue – turnover dipped one point to 88%, the lowest point since the third quarter of 2015. For the entire year of 2015, small-fleet truckload turnover averaged 79%.
Turnover at less-than-truckload fleet remained much lower than at truckload fleets, falling three points to 8%, the lowest point since the second quarter of 2013.
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Turnover and its causes are expenses we like to ignore or accept as the cost of running a trucking company. In a market like today’s, investing in retention doesn’t mean spending...
