Over 50% of drivers are currently not actively pursuing new driving opportunities, and 56% hold optimistic views on the potential end of the freight recession, according to the findings from the fall 2023 Driver Survey conducted by Conversion Interactive Agency in collaboration with People. Data. Analytics (PDA).
The survey explores several crucial aspects, including drivers’ optimism levels concerning the state of the freight market, factors influencing job changes, and their preferences when considering new driving roles.
In this fourth consecutive biannual survey, over half of the respondents indicated that they are not actively seeking new driving opportunities. However, 33.3% of drivers are actively seeking employment, a figure relatively consistent with the previous spring survey where 33.8% expressed interest in new opportunities.
Conversion Interactive Agency emphasizes the significance of this statistic for carriers in the transportation industry, indicating the challenge they face in attracting drivers to their fleets. The survey results suggest a need for truck driver recruiters to adopt and leverage new tools and technology to pursue and process driver applications effectively.
“Embracing innovation and technology is the key to success in today’s driver market, and drivers have already shown their readiness to respond. By leveraging technology like Conversion’s Lead Assist platform with advanced AI automation, we’ve seen a significant boost in the speed and quality of full applications,” said Kelley Walkup, president and CEO of Conversion Interactive Agency.
The incorporation of new tools and technology for recruitment and retention is highlighted as a potential differentiator for carriers, especially during a freight recession. However, it remains a relevant factor at all times. Notably, the survey reveals driver’s opinions on the economy, with 56.1% expressing optimism about the imminent end of the freight recession. This unexpected positivity within the industry suggests that drivers anticipate the current recession, which has been persistent, will end in the near future. While historical data indicates freight recessions typically last 18 to 22 months, no concrete evidence exists for 2023 yet.
“If you have the miles drivers need to make a competitive paycheck in this market, tell that story in your recruitment marketing messages,” Walkup said. “In a freight recession, drivers want to know the freight opportunities your carrier has for them so they know the miles they can expect.”
Responding to inquiries about their primary concerns, drivers identified meeting monthly bills (72.4%) and the importance of home and family (59.5%). Additionally, almost 40% of respondents, reflecting the aging workforce in the industry, expressed concerns about saving for retirement.
“These results underscore the significance of work-life balance and family-related concerns in the lives of our drivers. The concern over retirement savings aligns with the age demographics observed in the survey,” said Scott Dismuke, vice president of operations at PDA.
When asked about actions to attract and retain drivers if they controlled a trucking company, 36.4% of respondents emphasized the need to increase pay. In comparison, 23.3% recommended guaranteeing minimum pay or mileage/loads. These findings underscore the ongoing need for predictable pay, driven by reduced mileage and inconsistent freight. While immediate pay raises may not be the sole solution, initiatives that enable drivers to access more miles remain crucial.
“It’s worth noting that many existing ‘guaranteed pay’ models are not genuine guarantees; they come with conditions,” Dismuke said. “It’s essential to exercise caution when employing the term ‘guarantee,’ as drivers experiencing a ‘guarantee’ that falls short of expectations are at nearly double the risk of turnover. Effective communication about your driver compensation strategies in your recruitment marketing is paramount. Clear, concise, and transparent messaging plays a critical role in establishing trust with drivers.”
According to industry experts, as the economy undergoes continuous transformations, recruitment and retention of drivers remain a formidable challenge for trucking companies. Driver satisfaction requires a comprehensive understanding of individual factors, with carriers urged to maintain a firm grip on data and technology, attentively monitor driver feedback, and proactively address concerns.
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Source: The Trucker
