Truck Driver Shortage & Salary Increases: Does it solve the problem?
More trucking companies have resorted to raising truck driver salaries in the last two years. One major US trucking company offered an almost 33% increase to retain drivers and grow their fleet.
Across the Industry, these higher rates spark demand and create a better environment for contract drivers, according to the experts. With more available jobs, inexperienced truckers also have better opportunities to start their careers. Yet experts say that a larger problem remains: churning out qualified truckers who can operate safely on US roads.
Truck Driver Shortage Still Unsolved
Although many trucking companies have joined in the competition of offering truck driver salary increases, the shortage persists. Indeed, a recent study confirmed that the number of new driver entering the industry is insufficient to balance out the desperate need for talent.`
This major issue in the supply chain industry has been going on for many years. It has been blamed on too few applicants and high turnover rates caused by low wages and stricter regulations from the government.
In fact, just last year, the American Trucking Association (ATA) reported that there was a 25% decline in truckers and is still expected to drop further to 175,000 by 2026.
An aging population of truck drivers exacerbates the problem. A lot of companies have tried to address this issue with training programs and recruitment incentives, but these still failed to correct the ongoing issues.
The reality is, even if these firms are willing to increase pay, not everyone who applies for a job has the qualifications they need. They have to accept applicants with little or no training at all because they simply can’t find enough qualified people for open trucks.
How can driver salary increases benefit you?
If you’re a job seeker, don’t miss your chance when these companies increase their rates. You can be assured that this is the time when you can finally apply for a job and be confident in getting it with little to no experience.
For trucking companies, they must add incentives to attract suitable applicants. Incentives come in the form of training opportunities and better benefits to ensure that they can keep their employees from leaving for another company.
Truck driver salaries are climbing higher every year as competition heats up between transportation firms vying for qualified employees; however, these increases can’t fix all problems within the industry.
Transportation companies must work together to find long-term fixes if they want a sustainable future where jobs are plentiful for those who want them!