The typical truck driver is from the Baby-Boomer era, and is reaching retirement age. This is creating more demand for truck drivers in the industry, which younger generations view as low quality jobs. Although there is a high level of unemployment in the nation, many of the unemployed do not want to live the lifestyle or have the reputation of a truck driver. The increasing lack of interest in the trucking industry is causing serious issues in some companies’ supply chains.
Due to the rise in demand for truck drivers companies are finding it increasingly difficult to keep drivers on their fleet on their payroll. Drivers have the ability to leverage their ease of getting a different driving position. Some smaller trucking companies have seen turnover rates as high as 86% as drivers are continuously lured away to work for competitors. Trucking companies are going to have to raise salaries of their drivers in order to stay competitive and promote loyalty.
In addition to affecting the trucking companies, these shortages also impact other industries. Companies shipping goods via truck have seen their freight costs increase because of rising wages of truck drivers and increased costs of maintaining unused assets. Additionally this lack of drivers decreases the amount of trucking capacity available. The driver shortages are also causing delays in deliveries.