Q3 Recruiting & Retention Data Released
Conversion Interactive Agency and People. Data. Analytics. (PDA), two leaders in driver recruitment and retention, have released their Q3 2024 Driver Recruiting & Retention Data Download Report. This comprehensive report draws from data gathered and analyzed throughout the quarter, offering key trends and actionable insights, enabling carriers to recruit smarter and retain better.
As freight volumes began to improve slightly across certain sectors, competition for drivers intensified, leading to a significant 51% rise in company driver job postings between April and September 2024. The report highlights the importance of speed and efficiency in recruitment, as 85.3% of drivers are applying to multiple jobs during their search. Carriers utilizing advanced tools like Lead Assist experienced significant boosts in conversion rates, particularly after hours.
“As the economy starts to improve, driver recruiting is becoming increasingly competitive, and the key to success lies in leveraging the technology and strategy that provides cost savings," said Kelley Walkup, president and CEO of Conversion Interactive Agency. “We have seen fleets save millions in recruiting by putting the technology and strategy in place to deliver quality hires much faster – and the tech is improving every day with machine learning, predictive analytics, and AI involved.”
In addition to the data behind how the technology is delivering results, the report also emphasizes the power of employer branding. Companies investing in their employer brand are reducing their cost-per-apply-start by 49%. Additionally, job seekers exposed to employer branding ads were 29% more likely to apply, underscoring the importance of visibility in today’s job market.
On the retention side, the report notes that equipment-related issues, particularly concerning trailers, accounted for 34.5% of driver feedback. Mechanical breakdowns negatively impacted driver pay by reducing miles, while compensation concerns, specifically related to miles-driven, increased for the second consecutive quarter.
“While compensation remains a driver priority, we’re seeing a shift in concerns as miles frustrations come to the forefront,” said Scott Dismuke, Vice President of Operations at PDA. “Issues like equipment failures and communication breakdowns are leading causes of turnover. Carriers who address these operational hurdles, keeping drivers informed and reducing downtime, will ultimately see improvements in driver retention.”
Nearly 60% of drivers' operational frustrations are linked to communication and planning issues. While communication with managers improved by 6%, the report stresses that keeping drivers engaged through proactive communication and involving them in planning fosters a sense of respect, which in turn helps alleviate frustrations and improves driver retention.
“With the trucking economy gradually recovering, the pressure on carriers to recruit and retain drivers will only increase,” Walkup added. “A multi-faceted strategy that includes technology, employer branding, and operational improvements is essential to staying competitive in this evolving market.”
To access the full report, click here.
