ATA: Driver turnover continues to rise at large truckload carriers in Q4 2015

Annualized turnover rates at large truckload fleets grew two percentage points to 102 percent, while turnover at smaller fleets surged 21 points to 89 percent in the fourth quarter of 2015, according to the American Trucking Associations.    Annualized driver turnover rates at large truckload fleets jumped another 2 percentage points to 102 percent during the fourth quarter of 2015, according to the latest figures from the American Trucking Associations.
   ATA’s annualized driver turnover rate for large truckload fleets remained above 100 percent for the second straight quarter, the first such streak since 2012. The association said the average churn rate for large truckload carriers stood at 93 percent for the full year in 2015.
   For small truckload carrier fleets – those with less than $30 million in annual revenues – ATA said the annualized driver turnover rate surged 21 points to 89 percent, but was still six points lower than during the fourth quarter of 2014. Turnover at small truckload operators averaged just 79 percent for the year.
   The turnover rate at less-than-truckload carriers rose one point to 11 percent in the fourth quarter, equaling the average for LTL carriers of 11 percent in 2015.
   “This elevated turnover rate shows that the driver market remains a challenge for truckload fleets,” ATA Chief Economist Bob Costello said in a statement. “Obviously, attracting and retaining drivers remains a top concern for the industry.”
   ATA published a report last October estimating the shortage of drivers in the trucking industry will reach 48,000 by the end of 2015 and could grow to as many as 175,000 by 2024.