Trucking Gets a Tune Up
The labor shortages, supply chain disruptions, and high fuel prices brought on by the pandemic continue to reverberate in the trucking industry. To identify challenges and potential solutions, Rose Rocket surveyed trucking executives, carriers, and brokers and aggregated usage data from its transportation management system.
More than half (53.5%) of those surveyed cite hiring and retention as their top challenge. Of those, 36% say that improving hiring programs is the preferred approach, 18% say improving company culture would help, while 11% opt for improving pay and incentives.
Although carriers often deal with higher employee churn when compared to brokers, aggregated product use data shows turnover increases in broker organizations. This suggests that companies are facing retention concerns across the board.
Inflation and reduced market demand may compound the problem, and trucking companies are placing increased focus on growing their customer base.
When asked how they plan to remedy slower sales amid market volatility, 29% of respondents say that acquiring new customers through cold calling is the top approach to building business, 18% focus on better communication with existing customers, and nearly 10% say improved service will help retain current customers.