Q2 Recruiting & Retention Insights Released
Conversion Interactive Agency and People. Data. Analytics. (PDA), two leading companies in the driver recruitment and retention sector, have released their Q2 2024 Driver Recruiting & Retention Data Download Report. Throughout the quarter, these agencies collected and analyzed data to provide an extensive overview of trends and valuable insights, enabling carriers to recruit smarter and retain better.
Amidst talks of the freight recession nearing its end and the impact on driver recruiting and retention, both Conversion Interactive Agency and PDA observed sustained intensity in driver competition. “As driver demands increase, preparing for a more competitive driver market is paramount,” said Kelley Walkup, president and CEO of Conversion Interactive Agency. “This starts with a robust driver pipeline and the strategy to maintain that as driver needs increase.”
This growing demand for drivers is shown by a 43% increase in company driver job postings from April to July 2024, according to Fleet Intel. Additionally, with an aging truck driver workforce and nearly one-third of drivers over age 55, the need for new drivers continues to rise.
Technology played a crucial role in accelerating driver pipelines in Q2, with the ConversioNEXT platform and Lead Assist improving time-to-hire by an average of 40%. "Our technology solutions are designed to streamline the hiring process and ensure carriers can quickly and efficiently bring new drivers on board," said Walkup. "By leveraging advanced AI and automation, we help carriers get full driver applications faster and stay ahead in the competitive driver market."
As the trucking economy rebounds, turnover is likely to rise, according to historical data. Prioritizing the recruitment of existing drivers for fleets has become increasingly important. Over 50% of drivers surveyed in May 2024 reported being recruited by competitors at least once a week. Additionally, Conversion and PDA’s Truck Driver Survey revealed a record number of drivers currently looking for new jobs.
In Q2, 2024, according to the Data Download Report, compensation issues emerged as the top concern among drivers for the second consecutive quarter, continuing the trend observed in Q1 of 2024. The report indicates that 59% of drivers who faced compensation issues in Q2 attributed it primarily to miles-related concerns.
Scott Dismuke, vice president of operations at PDA, acknowledged the importance of addressing driver concerns and enhancing communication during this period. "Open and proactive communication with drivers is vital to stay ahead of issues before they escalate,” said Dismuke. Responding to drivers in a timely manner is equally crucial, as the Q2 data revealed that slow response times are a top communication issue for drivers. By respecting drivers and keeping them rolling, carriers can reduce equipment-related frustrations and enhance driver satisfaction, according to Dismuke.
" While there are signs the freight economy is slowly turning around, the data clearly shows that drivers’ patience is wearing thin," said Dismuke. "Compensation issues have risen by over 5% since the beginning of 2023, and the current economy continues to be a major source of frustration for drivers, contributing to the industry-wide rise in turnover. Addressing these challenges head-on is crucial for carriers to retain and attract drivers during these challenging times."
Walkup and Dismuke remain confident that with optimized strategies harnessing the best in cutting-edge technology, and collecting actionable data from drivers, fleets can face challenges head-on and recruit smarter and retain better.
To access the full report, click here.
