Heavy Duty Trucking, April 2019

HDT APRIL 2019 18 WWW TRUCKINGINFO COM Hotline TRUCKINGS MOST RESPECTED BUSINESS REPORT Majority of drivers dont stick out the first full year with their carrier New data from Stay Metrics shows the extent of the problem of early driver turnover Approximately 60 of the more than 3000 drivers from 89 carriers hired in January 2018 did not make it one year with their carrier according to Stay Metrics new Stay Days Table The new model serves as a survivor chart that shows the number of drivers hired by carriers each month and the percentage remaining at specific milestones after their date of hire 30 days 60 days 90 days etc This table allows Stay Metrics to follow specific cohorts of drivers and to show how well carriers are retaining them over time The Eisenhower legacy was a great legacy but its time to move on to more progressive things Rep Peter DeFazio D OR chairman of the House Committee on Transportation and Infrastructure on the surface transportation reauthorization bill hes working on He wants the bill to address climate issues and new technologies SPOT FREIGHT INDEX Information provided by DAT Solutions 2015 2016 2017 2018 201950100150200DECNOVOCTSEPAUGJULJUNMAYAPRMARFEBJAN INDEX YEAR 2000 100 February rates slip seasonally Truckload freight volumes typically decline on the spot market in February but the 12 drop from January was sharper than usual this year according to the DAT Freight Index Extreme winter weather in many parts of the country contributed to the drop in volumes but February also followed an unexpectedly strong January Spot rates dropped sharply compared to a year earlier but last years rates were elevated following the start of the electronic logging device mandate The Stay Days Table saw a slight increase in overall retention for drivers hired in September and later One possible explanation is that these drivers wanted to avoid changing carriers during the holiday season The data from the next few months will show if these fourth quarter hires match other groups retention percentages when they hit later milestones In a related survey Stay Metrics asked drivers whether they had thoughts about leaving their carriers It found that drivers with less than one year of industry experience and drivers with 7 to 15 years of experience were the most strongly to agree that they considered leaving DAT NORTH AMERICAN FREIGHT INDEX VAN PERCENT OF DRIVERS STAYING WITH CARRIERS AT LEAST Month of Hire 30 Days 60 Days 90 Days 120 Days 180 Days 270 Days 365 Days January 2018 n 3034 860 765 694 632 550 453 393 February 2018 n 2598 855 758 681 622 530 436 March 2018 n 2771 846 742 672 619 531 436 April 2018 n 2868 851 762 693 633 541 451 May 2018 n 3002 864 770 700 642 550 June 2018 n 3166 859 761 683 610 526 July 2018 n 3272 851 754 687 631 553 August 2018 n 3624 847 749 679 627 September 2018 n 3090 869 789 724 675 October 2018 n 3931 877 786 727 November 2018 n 2997 876 784 December 2018 n 2515 879 Survivor chart shows number of drivers hired by carriers by month and the percentage remaining at milestones after their date of hire SOURCE STAY METRICS DATABASE DRIVERS WHO WERE HIRED DURING EACH MONTH OF 2018 AND WHOSE CARRIERS ARE STILL PROVIDING DATA n 36868 N 89 Stay Days Table 2018