Truck driver shortage has been the biggest inspiration for trucking companies to start implementing employee retention strategies.
Unfortunately, trucking companies should have started with the implementation of employee retention strategies far before the truck driver shortage took place.
These days we can see that truck driver shortage is threatening the potential and the future of the overall trucking industry. That is the reason why more and more trucking company owners are looking forward to finding out which the best employee retention strategies that keep truck drivers on board are.
Simply, trucking companies should create a retention strategy that will protect their most valuable assets. And by doing so, to make their trucking company be a destination point to the best truck drivers in the USA.
Hence, if a trucking company hires the best truck drivers and provides them the best benefits and working environment, then those trucking companies will be confident that their truck driver is highly committed and productive in their work.
Further, in this article, you will have the chance to read more and find out which the top 10 employee retention strategies are. The strategies that I have included in this article will definitely lead you to keep truck drivers on board.
So, let’s take a look!
What is Employee Retention and Employee Retention Strategies
Employee retention cannot be explained with a simple sentence. It requires much more.
Thereupon, what I can tell you now is that employee retention strategies should be implemented by trucking companies starting from the very first day that they get a rookie truck driver joining their fleet.
Every now and then, employee retention can refer to various practices and policies that are allowing truck drivers to stay for a longer period of time in the company.
A trucking company owner who wants to run a successful trucking company should have in mind retaining his top talent truck drivers.
What happens when trucking companies are looking their best truckers?
Once a trucking company loses its best performing truck drivers it will limit its productivity and will damage the ranking of the company as well.
Later on, if we take a look at the turnover facts and figures, then we can understand why employee retention strategies are of a great importance for all trucking companies:
- One in 4 rookie truck drivers will leave within the first 6 months;
- More than 50% of truckers recruited by a trucking company will leave within 2 years;
- Almost 70% of trucking companies have reported that truck driver turnover has brought a negative impact on the overall work;
- 50% of all trucking companies in the USA are facing with problems of employee retention;
Thereupon, employee retention strategies include, but are not limited to the following facts and figures: salary levels, compensation issues, wage, incentives and so on.
1. Worldwide Trends in Employee Retention Strategies
All trucking companies worldwide are facing similar challenges and views of the importance of employee retention strategies. Yet, there are differences in the trucking industry and truck driver behavior from one region to the next.
Nevertheless, the retention of quality employees has become a global issue.
So, since the U.S. trucking industry is not the only one that is facing with this type of problems, straight proportionally it can see an example from trucking industries worldwide and implement some of the employee retention strategies that they are using successfully.
Thereupon, trucking companies worldwide are weighing the benefits of their truckers’ inclusion, engagement, and appeal of the work-life balance.
So, employee retention strategies are essential in strengthening the compensation components and the advancements of truck drivers.
Trucking companies with the implementation of retention strategies are meeting the needs and expectations of highly experienced and talented truck drivers.
The worldwide trends indicate that the key strategies for employee retention include:
- Recognition of employee contribution;
- Providing a healthy work-life balance;
- Develop career strategies;
- Offer competitive salary and benefits;
Hence, both cultural and national differences must be taken into account when implementing employee retention strategies.
2. Understand Why Employees Stay
The first step that trucking companies should take into consideration before they start with the implementation of employee retention strategies, is understanding why employees stay in a certain trucking company for a long period of time.
Yet, understanding why truck drivers stay with a certain trucking company for a long period begins with a very simple task- conducting surveys.
For example, you can start a survey in your trucking company and see the real side that your truck drivers will reveal to you. Wonder whether it is going to be the flexibility or salary increasement? You will find out soon. You just have to ask them and wait for an answer.
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After you have conducted the needed survey you will have to be open to a feedback. It is what can give a proper shape to the internal policies in your trucking company.
3. Help Employees Feel Valued
Only remarkable trucking company owners, that is to say, leaders can help employees feel valued.
Truck drivers are in fact the ones that are contributing in a high percentage to the company’s success– it is one of the reasons why trucking company owners should make them feel respected and valued.
In general, truck drivers trust and believe in the owners who are leading the trucking company in which they are working.
Thereupon, truck drivers can notice a remarkable trucking company owner with the help of the following facts:
- A real leader keeps the lines of communication open;
- He will share his vision for the future of the company with his truck drivers;
- Will offer exceptional opportunities for development and training;
- Will show respect for those they lead;
Moreover, by helping your employees feel valued you will experience long-term employees. Long term-employments are beneficial both for trucking companies and for truck drivers.
4. Invest in Truckers’ Professional Development
Professional development can equip truck drivers with new skills, help them gain and maintain at the same time a professional accreditation. In addition, it can provide truckers with an opportunity to take their career in a way better direction.