SlideShare a Scribd company logo
1 of 13
Why Drivers Stay with Fleets: Driver Appreciation Sustains Fleet Loyalty
Asking the Right Question. 1 Kuntz, Ray.  Transportation’s Role in Climate Change and Reducing Greenhouse Gases.  July 14, 2009. Most fleets suffering from industry-average turnover rates ask, “Why do drivers leave?” Unfortunately, the only people who can honestly answer that question have already packed up and gone. So these fleets look to new recruits, assuming that the incentive that attracted a new driver (typically pay rate) from an old company will also retain that driver.  But a large majority of driver turnover occurs within the first 90 days a driver is hired. Clearly, new recruits may not be the best group by which to gauge motivators for driver loyalty. We suggest asking, “Why do drivers stay?” Typically, if you can find a segment of drivers that have maintained their employment with you for 6 months or more, you’ve likely found a loyal group of drivers. Find out how you’ve earned that loyalty.
In January 2010, Open Road Drivers Plan ®  conducted a survey of professional truck drivers, asking this question, to determine the key factors driving loyalty to carriers. Drivers were asked to rate the importance of specific employee benefits in their decision to stay with or leave a trucking company.  Research Summary. Driver Breakdown 48% - Retired or Unemployed* 52% - Active Drivers 68% - Company Drivers 32% - Owner-Operators Demographic Males 36-55 years of age Earning $0.43 / mile where applicable Benefit Categories Compensation and Incentives Equipment and Technology Employee/Company Communications Job Stability *Only active drivers were considered when weighing the value of employee benefits and job satisfaction.
Less than 10% of active drivers rate their current trucking companies “above average” in providing basic employee benefits.  35% rated their current companies “below average” -- a relief perhaps for the 55% of trucking companies landing in the “magic middle,” but in an industry that consistently maintains turnover rates in the triple digits, achieving minimum expectations may cost your company hundreds of thousands of dollars each year.  Research Summary. Rate your most recent company for their performance in the following categories: Equipment and Technology, Benefits and Incentives, Co-workers and Management, Corporate Environment.  (Average Overall Corporate Scores)
[object Object],[object Object],[object Object],Job Stability is all About Mobility.
Keep a driver driving, and you’re likely to have a satisfied employee.  100% of surveyed drivers agree that steady work/miles and the stability of their company determined their loyalty to their fleet. After all, an attractive mileage rate doesn’t amount to much without mileage to multiply the extra pay-per-mile. Quality, consistent miles clearly indicate to a driver that both the trucking company and the job are secure.  Job Stability is all About Mobility.
Carriers that rated highest among drivers for overall job satisfaction clearly communicate career advancement opportunities to all employees.   But job stability has a long-term impact as well. Many drivers (74%) identified career support and development as important to their loyalty; the carriers that rated highest among drivers for overall job satisfaction clearly communicate career advancement opportunities to all employees.  Make sure you understand your drivers’ long-term goals, whether they be to lease their own truck, to transport freight or HazMat, or to advance into an office/management position. Even if a driver intends to be a company driver until retirement, the knowledge that other opportunities exist may create an increased perception of job stability. Job Stability is all About Mobility.
Driver incentive programs improve driver and company morale and have been shown to decrease fleet costs.   Appreciation Makes the Job Worthwhile. The FMCSA references one incentive pilot program that decreased new driver turnover from 98% to 20%. [2]   If we estimate the average cost of turnover per driver at $8,000, that 78% differential equates to over $600,000 in corporate savings per every hundred drivers hired. Beyond this, the FMCSA was also able to identify an average decrease in carrier crashes, insurance claims and workers’ compensation claims of 65% by carriers utilizing a safety-specific incentive program. [2]   The Federal Motor Carrier Safety Administration. “Driver Issues: Commercial Motor Vehicle Safety Literature Review.” June, 2007.
Two out of three drivers place high value on a company’s driver recognition and safety incentive programs when deciding whether to stay with or leave a carrier, and 97% of drivers place value in the carrier’s overall dedication to safety.  Appreciation Makes the Job Worthwhile. How important are the following when choosing to stay with an employer?.
The most referenced word when we asked drivers to write-in other factors to their job satisfaction was “honesty.” Communication is the Retention Lifeline. ,[object Object],[object Object],[object Object],[object Object]
The value of optimizing these contacts is transparent; the better question may be how to optimize them. Communication is the Retention Lifeline. Methodology:  Your drivers lead a mobile lifestyle, and your job as their employer is to maximize their mileage. That said, a driver’s lifestyle can limit your ability to maintain personal contact; so be sure to enlist a variety of personal and mass communication methods into your daily contact with drivers: voicemails, hotlines, personal phone calls, text messages, email, online forums, web conferences, in-person one-on-one meetings and focus groups.  Messaging:  If we understand that “Appreciation Makes the Job Worthwhile,” then every individual within your organization should be aware and appreciative of the value your drivers provide to your company. Be clear in your communications with drivers and ensure that the underlying message is always one of appreciation and respect.
Preparing for the Future. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Despite high driver unemployment rates and low driver turnover today, the American Trucking Association continues to predict a new shortage by 2014.  [3] [3]   American Trucking Association. Media Note. August, 2009
Open Road Drivers Plan ® ,[object Object],[object Object]

More Related Content

Viewers also liked

Symptoms of a Billing and Payment Problem
Symptoms of a Billing and Payment ProblemSymptoms of a Billing and Payment Problem
Symptoms of a Billing and Payment ProblemElizabeth Benditt
 
Adapting a Consumer Payment Program to Fit Commercial Requirements
Adapting a Consumer Payment Program to Fit Commercial RequirementsAdapting a Consumer Payment Program to Fit Commercial Requirements
Adapting a Consumer Payment Program to Fit Commercial RequirementsElizabeth Benditt
 
Commercial Artist
Commercial ArtistCommercial Artist
Commercial Artistcassidykd
 
Understanding the Value of a Payment Program to National Accounts
Understanding the Value of a Payment Program to National AccountsUnderstanding the Value of a Payment Program to National Accounts
Understanding the Value of a Payment Program to National AccountsElizabeth Benditt
 
Commercial Artist
Commercial  ArtistCommercial  Artist
Commercial Artistcassidykd
 
Commercial Artist
Commercial ArtistCommercial Artist
Commercial Artistcassidykd
 
B2i optimizing the value of the purpose driven industry
B2i optimizing the value of the purpose driven industryB2i optimizing the value of the purpose driven industry
B2i optimizing the value of the purpose driven industryElizabeth Benditt
 
Critical Mission Support Achieved through Custom Procurement Solutions
Critical Mission Support Achieved through Custom Procurement SolutionsCritical Mission Support Achieved through Custom Procurement Solutions
Critical Mission Support Achieved through Custom Procurement SolutionsElizabeth Benditt
 
Administrative Cost Savings through Invoice Verifications
Administrative Cost Savings through Invoice VerificationsAdministrative Cost Savings through Invoice Verifications
Administrative Cost Savings through Invoice VerificationsElizabeth Benditt
 

Viewers also liked (15)

En No Renob
En No RenobEn No Renob
En No Renob
 
Symptoms of a Billing and Payment Problem
Symptoms of a Billing and Payment ProblemSymptoms of a Billing and Payment Problem
Symptoms of a Billing and Payment Problem
 
Adapting a Consumer Payment Program to Fit Commercial Requirements
Adapting a Consumer Payment Program to Fit Commercial RequirementsAdapting a Consumer Payment Program to Fit Commercial Requirements
Adapting a Consumer Payment Program to Fit Commercial Requirements
 
Tecnoaddicio
TecnoaddicioTecnoaddicio
Tecnoaddicio
 
Commercial Artist
Commercial ArtistCommercial Artist
Commercial Artist
 
Understanding the Value of a Payment Program to National Accounts
Understanding the Value of a Payment Program to National AccountsUnderstanding the Value of a Payment Program to National Accounts
Understanding the Value of a Payment Program to National Accounts
 
Lesxarxessocials 1
Lesxarxessocials 1Lesxarxessocials 1
Lesxarxessocials 1
 
Commercial Artist
Commercial  ArtistCommercial  Artist
Commercial Artist
 
Commercial Artist
Commercial ArtistCommercial Artist
Commercial Artist
 
B2i optimizing the value of the purpose driven industry
B2i optimizing the value of the purpose driven industryB2i optimizing the value of the purpose driven industry
B2i optimizing the value of the purpose driven industry
 
CSA 2010: The Driver Impact
CSA 2010: The Driver ImpactCSA 2010: The Driver Impact
CSA 2010: The Driver Impact
 
Estrelles
EstrellesEstrelles
Estrelles
 
Critical Mission Support Achieved through Custom Procurement Solutions
Critical Mission Support Achieved through Custom Procurement SolutionsCritical Mission Support Achieved through Custom Procurement Solutions
Critical Mission Support Achieved through Custom Procurement Solutions
 
Administrative Cost Savings through Invoice Verifications
Administrative Cost Savings through Invoice VerificationsAdministrative Cost Savings through Invoice Verifications
Administrative Cost Savings through Invoice Verifications
 
Llum de carbó
Llum de carbóLlum de carbó
Llum de carbó
 

Similar to Why Drivers Stay with Fleets

Hiring_and_Predictive_Analytics-Selecting_the_Right_Candidates
Hiring_and_Predictive_Analytics-Selecting_the_Right_CandidatesHiring_and_Predictive_Analytics-Selecting_the_Right_Candidates
Hiring_and_Predictive_Analytics-Selecting_the_Right_CandidatesNathan Watson
 
CSA 2010: Carrier Considerations
CSA 2010: Carrier ConsiderationsCSA 2010: Carrier Considerations
CSA 2010: Carrier Considerationsrlshepard
 
CSA 2010: Carrier Considerations
CSA 2010: Carrier ConsiderationsCSA 2010: Carrier Considerations
CSA 2010: Carrier ConsiderationsMulti Service
 
Driver Source Overview 2015
Driver Source Overview 2015Driver Source Overview 2015
Driver Source Overview 2015John Frederick
 
Business Vehicle Program - Flat Allowance
Business Vehicle Program - Flat AllowanceBusiness Vehicle Program - Flat Allowance
Business Vehicle Program - Flat AllowanceJeff Warrensford
 
Salary Sacrifice Car Schemes
Salary Sacrifice Car SchemesSalary Sacrifice Car Schemes
Salary Sacrifice Car SchemesZenith
 
Vitality drive white paper june 2021
Vitality drive white paper june 2021Vitality drive white paper june 2021
Vitality drive white paper june 2021Matteo Carbone
 
EHI_2015SustainabilityReport
EHI_2015SustainabilityReportEHI_2015SustainabilityReport
EHI_2015SustainabilityReportDonna W Miller
 
Bus & Coach - Driver Shortage Report
Bus & Coach - Driver Shortage ReportBus & Coach - Driver Shortage Report
Bus & Coach - Driver Shortage ReportGraham Sheen
 
The true cost of outsourced maintenance
The true cost of outsourced maintenanceThe true cost of outsourced maintenance
The true cost of outsourced maintenanceFemi Esan
 
Truck mileage savings program
Truck mileage savings programTruck mileage savings program
Truck mileage savings programDerek Miller
 
Placing Customer Centricity in the Driver’s Seat of the Automotive Industry
Placing Customer Centricity in the Driver’s Seat of the Automotive IndustryPlacing Customer Centricity in the Driver’s Seat of the Automotive Industry
Placing Customer Centricity in the Driver’s Seat of the Automotive Industry1to1 Media
 
Recruiting Presentation National 2
Recruiting Presentation National 2Recruiting Presentation National 2
Recruiting Presentation National 2insuranceforless
 
Creating a Culture of Safety in Your Organization
Creating a Culture of Safety in Your OrganizationCreating a Culture of Safety in Your Organization
Creating a Culture of Safety in Your OrganizationNicole Weber
 
When to Self Manage Your Fleet
When to Self Manage Your FleetWhen to Self Manage Your Fleet
When to Self Manage Your FleetPablo Ruiz
 
TapCab Business Plan
TapCab Business PlanTapCab Business Plan
TapCab Business PlanEric Dahl
 

Similar to Why Drivers Stay with Fleets (18)

Hiring_and_Predictive_Analytics-Selecting_the_Right_Candidates
Hiring_and_Predictive_Analytics-Selecting_the_Right_CandidatesHiring_and_Predictive_Analytics-Selecting_the_Right_Candidates
Hiring_and_Predictive_Analytics-Selecting_the_Right_Candidates
 
CSA 2010: Carrier Considerations
CSA 2010: Carrier ConsiderationsCSA 2010: Carrier Considerations
CSA 2010: Carrier Considerations
 
CSA 2010: Carrier Considerations
CSA 2010: Carrier ConsiderationsCSA 2010: Carrier Considerations
CSA 2010: Carrier Considerations
 
Driver Source Overview 2015
Driver Source Overview 2015Driver Source Overview 2015
Driver Source Overview 2015
 
Business Vehicle Program - Flat Allowance
Business Vehicle Program - Flat AllowanceBusiness Vehicle Program - Flat Allowance
Business Vehicle Program - Flat Allowance
 
L3 Driving Simulator Buyer's Guide
L3 Driving Simulator Buyer's GuideL3 Driving Simulator Buyer's Guide
L3 Driving Simulator Buyer's Guide
 
Salary Sacrifice Car Schemes
Salary Sacrifice Car SchemesSalary Sacrifice Car Schemes
Salary Sacrifice Car Schemes
 
Vitality drive white paper june 2021
Vitality drive white paper june 2021Vitality drive white paper june 2021
Vitality drive white paper june 2021
 
EHI_2015SustainabilityReport
EHI_2015SustainabilityReportEHI_2015SustainabilityReport
EHI_2015SustainabilityReport
 
Bus & Coach - Driver Shortage Report
Bus & Coach - Driver Shortage ReportBus & Coach - Driver Shortage Report
Bus & Coach - Driver Shortage Report
 
The true cost of outsourced maintenance
The true cost of outsourced maintenanceThe true cost of outsourced maintenance
The true cost of outsourced maintenance
 
Uber case analysis.
Uber case analysis.Uber case analysis.
Uber case analysis.
 
Truck mileage savings program
Truck mileage savings programTruck mileage savings program
Truck mileage savings program
 
Placing Customer Centricity in the Driver’s Seat of the Automotive Industry
Placing Customer Centricity in the Driver’s Seat of the Automotive IndustryPlacing Customer Centricity in the Driver’s Seat of the Automotive Industry
Placing Customer Centricity in the Driver’s Seat of the Automotive Industry
 
Recruiting Presentation National 2
Recruiting Presentation National 2Recruiting Presentation National 2
Recruiting Presentation National 2
 
Creating a Culture of Safety in Your Organization
Creating a Culture of Safety in Your OrganizationCreating a Culture of Safety in Your Organization
Creating a Culture of Safety in Your Organization
 
When to Self Manage Your Fleet
When to Self Manage Your FleetWhen to Self Manage Your Fleet
When to Self Manage Your Fleet
 
TapCab Business Plan
TapCab Business PlanTapCab Business Plan
TapCab Business Plan
 

Recently uploaded

Event mailer assignment progress report .pdf
Event mailer assignment progress report .pdfEvent mailer assignment progress report .pdf
Event mailer assignment progress report .pdftbatkhuu1
 
A DAY IN THE LIFE OF A SALESMAN / WOMAN
A DAY IN THE LIFE OF A  SALESMAN / WOMANA DAY IN THE LIFE OF A  SALESMAN / WOMAN
A DAY IN THE LIFE OF A SALESMAN / WOMANIlamathiKannappan
 
VIP Kolkata Call Girl Howrah 👉 8250192130 Available With Room
VIP Kolkata Call Girl Howrah 👉 8250192130  Available With RoomVIP Kolkata Call Girl Howrah 👉 8250192130  Available With Room
VIP Kolkata Call Girl Howrah 👉 8250192130 Available With Roomdivyansh0kumar0
 
Understanding the Pakistan Budgeting Process: Basics and Key Insights
Understanding the Pakistan Budgeting Process: Basics and Key InsightsUnderstanding the Pakistan Budgeting Process: Basics and Key Insights
Understanding the Pakistan Budgeting Process: Basics and Key Insightsseribangash
 
Unlocking the Secrets of Affiliate Marketing.pdf
Unlocking the Secrets of Affiliate Marketing.pdfUnlocking the Secrets of Affiliate Marketing.pdf
Unlocking the Secrets of Affiliate Marketing.pdfOnline Income Engine
 
Ensure the security of your HCL environment by applying the Zero Trust princi...
Ensure the security of your HCL environment by applying the Zero Trust princi...Ensure the security of your HCL environment by applying the Zero Trust princi...
Ensure the security of your HCL environment by applying the Zero Trust princi...Roland Driesen
 
GD Birla and his contribution in management
GD Birla and his contribution in managementGD Birla and his contribution in management
GD Birla and his contribution in managementchhavia330
 
Grateful 7 speech thanking everyone that has helped.pdf
Grateful 7 speech thanking everyone that has helped.pdfGrateful 7 speech thanking everyone that has helped.pdf
Grateful 7 speech thanking everyone that has helped.pdfPaul Menig
 
Tech Startup Growth Hacking 101 - Basics on Growth Marketing
Tech Startup Growth Hacking 101  - Basics on Growth MarketingTech Startup Growth Hacking 101  - Basics on Growth Marketing
Tech Startup Growth Hacking 101 - Basics on Growth MarketingShawn Pang
 
Insurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usageInsurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usageMatteo Carbone
 
9599632723 Top Call Girls in Delhi at your Door Step Available 24x7 Delhi
9599632723 Top Call Girls in Delhi at your Door Step Available 24x7 Delhi9599632723 Top Call Girls in Delhi at your Door Step Available 24x7 Delhi
9599632723 Top Call Girls in Delhi at your Door Step Available 24x7 DelhiCall Girls in Delhi
 
Russian Faridabad Call Girls(Badarpur) : ☎ 8168257667, @4999
Russian Faridabad Call Girls(Badarpur) : ☎ 8168257667, @4999Russian Faridabad Call Girls(Badarpur) : ☎ 8168257667, @4999
Russian Faridabad Call Girls(Badarpur) : ☎ 8168257667, @4999Tina Ji
 
Monte Carlo simulation : Simulation using MCSM
Monte Carlo simulation : Simulation using MCSMMonte Carlo simulation : Simulation using MCSM
Monte Carlo simulation : Simulation using MCSMRavindra Nath Shukla
 
It will be International Nurses' Day on 12 May
It will be International Nurses' Day on 12 MayIt will be International Nurses' Day on 12 May
It will be International Nurses' Day on 12 MayNZSG
 
Cash Payment 9602870969 Escort Service in Udaipur Call Girls
Cash Payment 9602870969 Escort Service in Udaipur Call GirlsCash Payment 9602870969 Escort Service in Udaipur Call Girls
Cash Payment 9602870969 Escort Service in Udaipur Call GirlsApsara Of India
 
The Coffee Bean & Tea Leaf(CBTL), Business strategy case study
The Coffee Bean & Tea Leaf(CBTL), Business strategy case studyThe Coffee Bean & Tea Leaf(CBTL), Business strategy case study
The Coffee Bean & Tea Leaf(CBTL), Business strategy case studyEthan lee
 
Creating Low-Code Loan Applications using the Trisotech Mortgage Feature Set
Creating Low-Code Loan Applications using the Trisotech Mortgage Feature SetCreating Low-Code Loan Applications using the Trisotech Mortgage Feature Set
Creating Low-Code Loan Applications using the Trisotech Mortgage Feature SetDenis Gagné
 
Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...
Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...
Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...Lviv Startup Club
 

Recently uploaded (20)

Event mailer assignment progress report .pdf
Event mailer assignment progress report .pdfEvent mailer assignment progress report .pdf
Event mailer assignment progress report .pdf
 
A DAY IN THE LIFE OF A SALESMAN / WOMAN
A DAY IN THE LIFE OF A  SALESMAN / WOMANA DAY IN THE LIFE OF A  SALESMAN / WOMAN
A DAY IN THE LIFE OF A SALESMAN / WOMAN
 
VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...
VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...
VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...
 
VIP Kolkata Call Girl Howrah 👉 8250192130 Available With Room
VIP Kolkata Call Girl Howrah 👉 8250192130  Available With RoomVIP Kolkata Call Girl Howrah 👉 8250192130  Available With Room
VIP Kolkata Call Girl Howrah 👉 8250192130 Available With Room
 
Understanding the Pakistan Budgeting Process: Basics and Key Insights
Understanding the Pakistan Budgeting Process: Basics and Key InsightsUnderstanding the Pakistan Budgeting Process: Basics and Key Insights
Understanding the Pakistan Budgeting Process: Basics and Key Insights
 
Unlocking the Secrets of Affiliate Marketing.pdf
Unlocking the Secrets of Affiliate Marketing.pdfUnlocking the Secrets of Affiliate Marketing.pdf
Unlocking the Secrets of Affiliate Marketing.pdf
 
Ensure the security of your HCL environment by applying the Zero Trust princi...
Ensure the security of your HCL environment by applying the Zero Trust princi...Ensure the security of your HCL environment by applying the Zero Trust princi...
Ensure the security of your HCL environment by applying the Zero Trust princi...
 
GD Birla and his contribution in management
GD Birla and his contribution in managementGD Birla and his contribution in management
GD Birla and his contribution in management
 
Grateful 7 speech thanking everyone that has helped.pdf
Grateful 7 speech thanking everyone that has helped.pdfGrateful 7 speech thanking everyone that has helped.pdf
Grateful 7 speech thanking everyone that has helped.pdf
 
Tech Startup Growth Hacking 101 - Basics on Growth Marketing
Tech Startup Growth Hacking 101  - Basics on Growth MarketingTech Startup Growth Hacking 101  - Basics on Growth Marketing
Tech Startup Growth Hacking 101 - Basics on Growth Marketing
 
Insurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usageInsurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usage
 
9599632723 Top Call Girls in Delhi at your Door Step Available 24x7 Delhi
9599632723 Top Call Girls in Delhi at your Door Step Available 24x7 Delhi9599632723 Top Call Girls in Delhi at your Door Step Available 24x7 Delhi
9599632723 Top Call Girls in Delhi at your Door Step Available 24x7 Delhi
 
Russian Faridabad Call Girls(Badarpur) : ☎ 8168257667, @4999
Russian Faridabad Call Girls(Badarpur) : ☎ 8168257667, @4999Russian Faridabad Call Girls(Badarpur) : ☎ 8168257667, @4999
Russian Faridabad Call Girls(Badarpur) : ☎ 8168257667, @4999
 
Monte Carlo simulation : Simulation using MCSM
Monte Carlo simulation : Simulation using MCSMMonte Carlo simulation : Simulation using MCSM
Monte Carlo simulation : Simulation using MCSM
 
Forklift Operations: Safety through Cartoons
Forklift Operations: Safety through CartoonsForklift Operations: Safety through Cartoons
Forklift Operations: Safety through Cartoons
 
It will be International Nurses' Day on 12 May
It will be International Nurses' Day on 12 MayIt will be International Nurses' Day on 12 May
It will be International Nurses' Day on 12 May
 
Cash Payment 9602870969 Escort Service in Udaipur Call Girls
Cash Payment 9602870969 Escort Service in Udaipur Call GirlsCash Payment 9602870969 Escort Service in Udaipur Call Girls
Cash Payment 9602870969 Escort Service in Udaipur Call Girls
 
The Coffee Bean & Tea Leaf(CBTL), Business strategy case study
The Coffee Bean & Tea Leaf(CBTL), Business strategy case studyThe Coffee Bean & Tea Leaf(CBTL), Business strategy case study
The Coffee Bean & Tea Leaf(CBTL), Business strategy case study
 
Creating Low-Code Loan Applications using the Trisotech Mortgage Feature Set
Creating Low-Code Loan Applications using the Trisotech Mortgage Feature SetCreating Low-Code Loan Applications using the Trisotech Mortgage Feature Set
Creating Low-Code Loan Applications using the Trisotech Mortgage Feature Set
 
Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...
Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...
Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...
 

Why Drivers Stay with Fleets

  • 1. Why Drivers Stay with Fleets: Driver Appreciation Sustains Fleet Loyalty
  • 2. Asking the Right Question. 1 Kuntz, Ray. Transportation’s Role in Climate Change and Reducing Greenhouse Gases. July 14, 2009. Most fleets suffering from industry-average turnover rates ask, “Why do drivers leave?” Unfortunately, the only people who can honestly answer that question have already packed up and gone. So these fleets look to new recruits, assuming that the incentive that attracted a new driver (typically pay rate) from an old company will also retain that driver. But a large majority of driver turnover occurs within the first 90 days a driver is hired. Clearly, new recruits may not be the best group by which to gauge motivators for driver loyalty. We suggest asking, “Why do drivers stay?” Typically, if you can find a segment of drivers that have maintained their employment with you for 6 months or more, you’ve likely found a loyal group of drivers. Find out how you’ve earned that loyalty.
  • 3. In January 2010, Open Road Drivers Plan ® conducted a survey of professional truck drivers, asking this question, to determine the key factors driving loyalty to carriers. Drivers were asked to rate the importance of specific employee benefits in their decision to stay with or leave a trucking company. Research Summary. Driver Breakdown 48% - Retired or Unemployed* 52% - Active Drivers 68% - Company Drivers 32% - Owner-Operators Demographic Males 36-55 years of age Earning $0.43 / mile where applicable Benefit Categories Compensation and Incentives Equipment and Technology Employee/Company Communications Job Stability *Only active drivers were considered when weighing the value of employee benefits and job satisfaction.
  • 4. Less than 10% of active drivers rate their current trucking companies “above average” in providing basic employee benefits. 35% rated their current companies “below average” -- a relief perhaps for the 55% of trucking companies landing in the “magic middle,” but in an industry that consistently maintains turnover rates in the triple digits, achieving minimum expectations may cost your company hundreds of thousands of dollars each year. Research Summary. Rate your most recent company for their performance in the following categories: Equipment and Technology, Benefits and Incentives, Co-workers and Management, Corporate Environment. (Average Overall Corporate Scores)
  • 5.
  • 6. Keep a driver driving, and you’re likely to have a satisfied employee. 100% of surveyed drivers agree that steady work/miles and the stability of their company determined their loyalty to their fleet. After all, an attractive mileage rate doesn’t amount to much without mileage to multiply the extra pay-per-mile. Quality, consistent miles clearly indicate to a driver that both the trucking company and the job are secure. Job Stability is all About Mobility.
  • 7. Carriers that rated highest among drivers for overall job satisfaction clearly communicate career advancement opportunities to all employees. But job stability has a long-term impact as well. Many drivers (74%) identified career support and development as important to their loyalty; the carriers that rated highest among drivers for overall job satisfaction clearly communicate career advancement opportunities to all employees. Make sure you understand your drivers’ long-term goals, whether they be to lease their own truck, to transport freight or HazMat, or to advance into an office/management position. Even if a driver intends to be a company driver until retirement, the knowledge that other opportunities exist may create an increased perception of job stability. Job Stability is all About Mobility.
  • 8. Driver incentive programs improve driver and company morale and have been shown to decrease fleet costs. Appreciation Makes the Job Worthwhile. The FMCSA references one incentive pilot program that decreased new driver turnover from 98% to 20%. [2] If we estimate the average cost of turnover per driver at $8,000, that 78% differential equates to over $600,000 in corporate savings per every hundred drivers hired. Beyond this, the FMCSA was also able to identify an average decrease in carrier crashes, insurance claims and workers’ compensation claims of 65% by carriers utilizing a safety-specific incentive program. [2] The Federal Motor Carrier Safety Administration. “Driver Issues: Commercial Motor Vehicle Safety Literature Review.” June, 2007.
  • 9. Two out of three drivers place high value on a company’s driver recognition and safety incentive programs when deciding whether to stay with or leave a carrier, and 97% of drivers place value in the carrier’s overall dedication to safety. Appreciation Makes the Job Worthwhile. How important are the following when choosing to stay with an employer?.
  • 10.
  • 11. The value of optimizing these contacts is transparent; the better question may be how to optimize them. Communication is the Retention Lifeline. Methodology: Your drivers lead a mobile lifestyle, and your job as their employer is to maximize their mileage. That said, a driver’s lifestyle can limit your ability to maintain personal contact; so be sure to enlist a variety of personal and mass communication methods into your daily contact with drivers: voicemails, hotlines, personal phone calls, text messages, email, online forums, web conferences, in-person one-on-one meetings and focus groups. Messaging: If we understand that “Appreciation Makes the Job Worthwhile,” then every individual within your organization should be aware and appreciative of the value your drivers provide to your company. Be clear in your communications with drivers and ensure that the underlying message is always one of appreciation and respect.
  • 12.
  • 13.