The Weekly Report brings you updated data on recruiting metrics including click, search, and spot rates, plus a new story of the week. This week’s story – the key to finding and keeping drivers.
We provide the Weekly Report in numerous formats every week. Which one is right for you? Watch the latest reports on our Talent Intelligence Resource page or YouTube channel, use our Numbers at a Glance section for quick visual references, download the Weekly Report PDF (available below), read the transcript, or listen to the audio version of August 24, 2022, Weekly Report below.
|WOW: ▼ Down 7¢ per Mile|
|Spot Rates by Segment|
|WoW: Dry Van ▼ Down 8¢ per Mile|
|WoW: Refrigerated ▼ Down 4¢ per Mile|
|WoW: Flatbed ▼ Down 9¢ per Mile|
|Load Posting Volume|
|WOW: ▲ Up 4%|
|Load Volume by Segment|
|WoW: Dry Van ▲ Up .8%|
|WoW: Refrigerated ▲ Up .5%|
|WoW: Flatbed ▲ Up 6.5%|
|WOW: ▲ Up 6%|
|Truck Driver Searches|
|WOW: ▲ Up 5%|
|MoM: ▲ Up 20%|
|YoY: ▼ Down 39%|
|Clicks on Truck Driver Postings|
|WOW: ▼ Down 4%|
|MoM: ▲ Up 9%|
|YoY: ▲ Up 41%|
Would you like to have your own copy of the trucking industry data? All of the information covered in this week’s report for August 24, 2022, is available for your convenience in PDF form below. Click the image to view and download your copy of the Weekly Trucking Insight.
Hello everyone and welcome to the Weekly Report. For Randall Reilly, I’m Joshua Miller. If you enjoy our show don’t forget to like, share, and subscribe. We’ve got all the up-to-date recruiting data for you, so let’s get right to it.
Searches were up 5% WoW and 20% MoM but saw a 39% YoY decrease. For clicks, we saw a 4% WoW drop and increases of 9% MoM and 41% YoY.
Total load postings were up by 4% WoW, and all three major segments saw increases. Dry van postings were up .8%, refrigerated rose by ½%, and flatbed rose by 6 ½% WoW. Those increases were the result of higher load postings in all regions with the exception of the Northeast.
Truck availability increased by 6% WoW as the overall load-to-truck ratio fell to its lowest level since June of 2020.
Spot rates fell by 7¢ per mile WoW, and all three segments saw rate declines. Dry van decreased by 8¢, refrigerated was down 4¢, and flatbed rates fell by 9¢ per mile WoW.
Flatbed rates have now fallen 76¢ since hitting that record level back in late May. And overall, spot rates are now down 21% YoY.
Recruiters are shedding some light on what works for obtaining and retaining drivers. As you may expect, pay still remains a popular tactic among fleets. According to CCJ, 68% of fleets surveyed raised wages at least once in 2021. 31% raised wages more than once, and 7% raised them three times or more.
Some carriers have also switched to a pay-for-performance system that compensates drivers based on categories related to things like safety and fuel efficiency.
When it comes to successfully attracting more women drivers, recruiters and carriers report that offering up varied driving schedules can lead to success. Since women are more likely to be primary caregivers of the family, many are unwilling or unable to be out on the road for extended periods of time.
An example of the varied schedules that seem to be working is a five-day work week, in which the drivers are allowed to select which five days of the week they work. Another popular option among women drivers is a four-on-four-off program.
Making women trainers available for those who may be uncomfortable with being alone in the cab with a man also seems to be moving the needle and attracting more women drivers.
Focusing on young drivers is another way recruiters are seeing some success. Participating in the Safe Driver Apprenticeship Pilot Program allows carriers to add 18 to 20-year-old drivers. Having a driver school or partnering with a local school can also improve retention rates and increase driver safety.
One Canadian carrier brings in around 160 entry-level drivers through its school every year, and 90% of them remain with the company. They have found that the drivers they train themselves also tend to be safer and more productive when compared to their other drivers who have managed to pick up bad habits they learned before joining the fleet.
And one final area to cover is company culture. Creating a driver advisory board helps create and/or maintain a driver-centric atmosphere, and thus creates a culture in which drivers feel legitimately heard and respected.
That does it for this week’s report. Download a PDF copy of everything we covered today from the main body of the post on our Randall Reilly site or in the description of the YouTube video. Come on back and see us next week as we take another look back to help you move forward. Until then, have a great week everybody.