Sep 19, 2017 • Carriers

Truck Driver Turnover Rate Rapidly Increased

Truck Driver Turnover Rate Rapidly Increased

The truck driver turnover rate rapidly increased to its highest mark in the last seven years in the second quarter of 2017.

Truck Driver Turnover Rate

According to American Trucking Associations’ quarterly report, the turnover rate at large truckload carriers in the second quarter of 2017 jumped 16 percentage points to 90 percent – the highest it has been since the final quarter of 2015.

The 16-point increase is the largest quarterly jump in truck driver turnover rate since the fourth quarter of 2010.

“We saw double-digit gains in the annualized turnover rate for both small and large truckload fleets,” said ATA Chief Economist Bob Costello. “After a period of relatively low turnover, it appears the driver market is tightening again, which coupled with increased demand for freight movement, could rapidly exacerbate the driver shortage.”

The ATA report also revealed turnover numbers for smaller fleets. Smaller carrier companies with $30 million in annual revenue or less saw aneven higher turnover rate increase. For them, the turnover rate increased by 19 percentage points to 85 percent, the highest it has been since the first quarter of 2016.

The turnover picture at less-than-truckload fleets was more muddled, with over-the-road LTL turnover dipping one point to 9 percent, says the ATA.

“We predicted that last year’s period of relatively low and stable turnover could be short-lived if the freight economy recovered from 2016’s freight recession,” Costello said. “It appears those predictions were correct and we may be seeing the beginnings of a significant tightening of the driver market and acceleration of the driver shortage.”

Truck Tonnage Trending Up

Despite the high truck driver turnover rate and impeding driver shortage, Truck Tonnage Index jumped 7.1 percent in August and year-to-date, compared with the same eight months in 2016, the index is up 2.1 percent, says the ATA. Costello partially correlates the increases in August to Hurricanes Harvey and Irma.

The trucking industry is trending up still, with 2016 truck freight tonnage up 1 percent or 500 million tons from 2015.

If you’re a truck driver and are ready to make the jump to start your own trucking company, the timing might be right.

How to Start a Trucking Company

Tagstruck drivers Owner Operators

Trucker Spotlight - Carolina Ortega <em>The Trucker Spotlight series explores the lives of truckers and their journey to make a difference in their industry. We interview different truck drivers to understand some life lessons that make them who they are today. We also learn more about their motivations, and the problems that they encounter on the job. We also tackle how Trucker Path's solutions helped them with what they do. The information that they provide helps inform other people who are looking to delve into the trucking world.</em> <h2></h2> [img src="https://truckerpath.com/uploads/2020/05/65456837_2341965182724336_3750110940285108224_n.png" alt=""] <h2></h2> Working as a truck driver at a logistics company, <strong>Carolina</strong> started a Youtube channel "Loira na Estrada" which means "Blondie on the Road", where she gives us a glimpse of her day to day trucking life. She drives an 18 wheeler (VOLVO VNL 860) across United States. We're honored to have a chance to interview her and get a glimpse of her trucking lifestyle. <h2></h2> <h3></h3> <h3><strong>What made you decide to be a trucker?</strong></h3> The freedom and the lifestyle that this job offers amazes me, plus driving a big machine like that is a honor for me. <h2></h2> <h3><strong>How many years have you been driving? What are the significant changes that you've noticed in the trucking industry?</strong></h3> I've been driving for around 2 years now. With the current crisis we are all experiencing, I felt a decrease on the number of the loads and a decrease of load prices on the market. <h2></h2> [img src="https://truckerpath.com/uploads/2020/05/b12.jpeg" alt=""] <h2></h2> <h3><strong>Are there any times of loneliness while driving? How do you deal with it?</strong></h3> I never feel lonely, because the freedom makes me happy and I have everything I always wanted. It’s peaceful, I love seeing new places, waking up in one place and go to sleep in another. Traveling every day really makes me fulfilled. <h2></h2> <h3><strong>As a trucker, what are the current struggles in this COVID-19 pandemic?</strong></h3> In the beginning of the situation with COVID-19 was hard to find masks and hand sanitizer in the truck stops. But being in the truck actually makes me feel more comfortable because I can keep doing what I am doing and it’s easy to avoid crowds. I'd say quarantine in the truck is the best quarantine you could ever have. <h2></h2> [img src="https://truckerpath.com/uploads/2020/05/b14.jpeg" alt=""] <h2></h2> <h3><strong>What are your usual routes? Favorite scenic truck route?</strong></h3> Definitely my favorite route is to drive on the historic Route 66, I love to take the original stretch of the Route 66 in Seligman, Arizona. I also love I-80 in Wyoming, I-15 from St George, Utah to Las Vegas is an amazing scenery, I-90 in Montana is mind blowing too, there are so many roads I love to take - mainly the ones in the west side of the country. <h2></h2> <h3><strong>Weirdest or most unusual haul?</strong></h3> Definitely live bees was the craziest load I ever took. It was in a flat bed truck when I used to work as a team. It was very crazy, adventurous and kinda funny sometimes. <h2></h2> <h3><strong>How often do you use rest stops / truck stops? What are the things that you look for in a truck stop? Favorite truck stop meal?</strong></h3> I use rest stops and truck stops every day either for spend the night, or to put fuel, to eat, to take shower, to use scales, etc. I’m not a fast-food fan so I prefer to find hot meals, more homemade kind food and soups at the truck stops. <h2></h2> <h3><strong>What Trucker Path features do you often use when you drive?</strong></h3> I use <a href="https://truckerpath.com/trucker-path-app/">Trucker Path</a> for everything I need about trucking during my work day. Like I can see where are the truck stops and accurate distances, I check the parking availability before I stop anywhere and this is very helpful because it is well updated. I can check if the truck stop I’m going has a shower, how many fuel pumps, scale, mechanic shop, facilities. The app also shows the stores phone number, address and reviews. Also i can see where the truck friendly Walmart’s are and the reviews made by other truckers. It’s perfect to find also authorized truck shop, diesel prices, weight stations (if they are closed or open). Well this app is so complete that I don’t see me working efficiency without it. <h2></h2> <h3><strong>Where can people watch your trucking videos on Youtube?</strong></h3> I currently have two Youtube channels: <h2></h2> 1. <a href="https://www.youtube.com/user/lindacarolvibe/featured">Loira na Estrada</a> - This is my primary channel. I mostly speak Portuguese here. <iframe width="560" height="315" src="https://www.youtube.com/embed/ZcwOZmFboyI" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> <h3></h3> 2. <a href="https://www.youtube.com/channel/UCqhudMXrchSUSkn3Tls83mg/featured">Blondie on the Road</a> - A lot of people requested me to do english videos and so here it is. <iframe width="560" height="315" src="https://www.youtube.com/embed/wchXA3YtS2I" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> <h2></h2> Hope you guys enjoy! <h2></h2> <h2></h2> <h4>By Aldous Aldwin</h4> <h3></h3> <h3></h3>

May 27, 2020 • Carriers

Trucker Spotlight - Shelby <em>The Trucker Spotlight series explores the lives of truckers and their journey to make a difference in their industry. We interview different truck drivers to understand some life lessons that make them who they are today. We also learn more about their motivations, and the problems that they encounter on the job. We also tackle how Trucker Path's solutions helped them with what they do. The information that they provide helps inform other people who are looking to delve into the trucking world.</em> <h2></h2> [img src="https://truckerpath.com/uploads/2020/09/blog-4.jpg" alt=""] <h2></h2> Today we are putting the spotlight on <strong>Shelby</strong>, who's been driving for 3 years now. She's has a blog and Youtube channel called, Happiness by the Mile, where she shares her experiences and also gives information on everything you would want or need to know to become a professional driver, and live on the road. Let's get to know more about Shelby and how she gets happiness out of every mile. <h2></h2> <h3></h3> <h3><strong>What made you decide to be a trucker?</strong></h3> It was just a childhood dream of mine to drive a semi. I was not invested in making a career out of it. I just wanted to do it to say I could. It was more of a bucket list item than anything else. Now, I love it so much I could never leave! <h2></h2> <h3><strong>In the years that you have been driving, what are the significant changes that you've noticed in the trucking industry?</strong></h3> I have not seen much of any significant change during my short time in the industry, but I have to say that there is a definite shift happening with the reduction of mom and pop truck stops, access to good food, and good training for those getting into the industry. <h2></h2> [img src="https://truckerpath.com/uploads/2020/09/blog-6.jpg" alt=""] <h2></h2> <h3><strong>What made you decide to create a Youtube channel? And why did you choose the "Happiness by the Mile" name?</strong></h3> I initially started an <a href="https://www.instagram.com/happiness_by_the_mile/">Instagram</a> page with the name "Happiness By The Mile". I thought it was the most ideal reference to my mindset of being on the road. We chase many things down the road, our thoughts, fears, hopes for the future, but we forget all too often our happiness is not and will never be a destination. We have to be present in our current lives, and happiness is a choice that we can make at any time. I want to encourage drivers to build happiness as they drive down the road, not chase it into the sunset. <h2></h2> <h3><strong>Do you have a name for your truck?</strong></h3> My current truck's name is "Waldo". I play a game on Instagram with my followers where I post my truck at a truck stop, and they try to guess where it's located. "Where's Waldo?" <h2></h2> <h3><strong>Are there times of loneliness while driving? How do you deal with it? </strong></h3> I love to keep my brain stimulated by listening to podcasts and audiobooks. I also go out of my way to make kind gestures to others by buying their coffee for them, or helping them out if they are trying to fix something on their trucks at a rest area. I think we all benefit from some positive interaction with other humans on the road. It just takes a bit of effort to put yourself out there to receive. <h2></h2> <h3><strong> As a trucker, what are the current struggles in this COVID19 pandemic?</strong></h3> The hardest was finding food for a long time. With a lot of the restaurants and fast food joints having fewer hours or being closed all together it was quite a struggle. <h2></h2> [img src="https://truckerpath.com/uploads/2020/09/blog-5.jpg" alt=""] <h2></h2> <h3><strong>What are your usual routes? Favorite scenic truck route?</strong></h3> I run I-80 quite often. If I go east it is usually to Pennsylvania or New Jersey. Most of my routes on the west side of the united states are to Montana, Washington or Oregon. I tend to stay where the snow happens to be the worst. Just the luck of the draw for me. My favorite route is anywhere through US 191, north or south of Salt Lake City it doesn't matter. It is absolutely breathtaking and goes through various national parks. <h2></h2> <h3><strong>Weirdest or most unusual haul?</strong></h3> My most unusual haul had to be a single pallet of medical supplies across the entire United States (not during COVID). <h2></h2> <h3><strong>How often do you use rest stops / truck stops? What are the things that you look for in a truck stop? Favorite truck stop meal?</strong></h3> I stop and truck stops and rest areas frequently! I stop often to let my dog Dakota out to stretch her legs, as well as myself. We take a generous amount of time to make sure that we both are feeling awake and ready to keep moving down the road. <h2></h2> [img src="https://truckerpath.com/uploads/2020/09/blog-2.jpg" alt=""] <h3><strong>What are the common troubles or problems you encounter while trucking?</strong></h3> We often struggle to find a place to park with the doubles set. Pull through parking spaces are the only option most of the time, and not all truckstops have them. We are sometimes forced to park on the curb out of the way, or on exit ramps of the interstates. <h2></h2> [img src="https://truckerpath.com/uploads/2020/09/blog-3.jpg" alt=""] <h2></h2> <h3><strong>What are your pet peeves while driving/trucking?</strong></h3> I don't have many pet peeves. I do wish that there was more respect given to the trucks from cars on the road, but it's hard to know what we do unless you've been up there in that seat doing it. We oftentimes need to back off a busy street to a customer dock, and it can be hard with cars zipping around you instead of giving you a few minutes to do what you need to do to get out of the way. <h2></h2> <h3><strong>We're glad that Trucker Path has been of service to you! Could you share your favorite feature of the app?</strong></h3> I like to use <a href="http://www.truckerpath.com">Trucker Path's</a> map feature to see where all the truckstops are around my current location, and I use it to help me trip plan to my final drop location. <h2></h2> <h3><strong>What are some tips that you would like to share for aspiring truckers?</strong></h3> Take it slow and steady. No matter how many years you have on your belt, you can never know it all, and always have something to learn. <h2></h2> <h3><strong>Where can we watch your trucking videos?</strong></h3> You can check out my <a href="https://www.youtube.com/c/ShelbyHBTM/featured">Happiness by the Mile channel on Youtube</a>. <h2></h2> <iframe width="560" height="315" src="https://www.youtube.com/embed/RKbiP779jJU" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> <h2></h2> <em>Got a cool story to share? Send us message at community@truckerpath.com to be featured!</em> <h2></h2> <h2></h2> <h4>By Aldous Aldwin</h4> <h3></h3> <h3></h3>

Sep 11, 2020 • Carriers

Freight Factoring Fees [p]Some companies will charge freight factoring fees compounding the actual factoring cost for your trucking company to factor a load. [/p] [h2] Freight Factoring Fees [/h2] [p] Review the fine print of freight contracts and understand the factoring fees that sneaky freight factoring companies sometimes have hidden from the advertised factoring rate. [/p] [p]Freight factoring can be a great tool to streamline your cash flow and grow your business as it eliminates the wait to get paid for owner-operators. However, some factoring companies have contracts with complicated jargon and disclaimers hidden in the fine print. [/p] [h2] Hidden Costs and Factoring Fees [/h2] [p]Sometimes a factoring company will advertise a great rate, far lower than any competitor. It's a perfect scenario for you, right? Well, not exactly. [/p] [p]Those rates that seem too good to be true are typically just that. Although a low rate is optimal, the associated factoring fees that you will incur in addition to the rate can balloon the overall cost for you to factor. [/p] [video id="IBCMtru_QMQ"] [h2] ACH Transfer Fee [/h2] [p]ACH Transfer fees can be issued each time you factor and range from $10 to upwards of $25 depending on the type of transfer or deposit. This cost can surely add up over time and frankly, it's ridiculous for to you to pay a fee just to receive your money. [/p] [h2] Minimum Volume Fee [/h2] [p]Often times a factoring company will require you to commit to factoring a minimum volume of invoices. Failure to meet the agreed minimum amount can result in extra fees or a percentage surcharge. Take into account your typical invoice amounts and calculate if you will have an issue trying to meet the minimum requirements. Keep in mind not all factoring companies have this policy or fee. [/p] [h2] Client's Credit Check Fee [/h2] [p]Although your credit is not taken into account, your client's credit is. The creditworthiness of your client must meet a certain standard for certain factoring companies before they agree to factor your invoices. That's right, some companies will charge you a fee for that credit check. [/p] [h2] Length of Terms [/h2] [p]You might decide to factor for a variety of reasons. Unavoidable circumstances might arise making it difficult to cover your operational costs. Truck repairs are extremely costly and unpredictable at times, especially for owner-operators and having a reliable truck that is fully functional is essential to your business. If you run a small fleet, wages, insurance, and taxes further compound your expenses. [/p] [p]This brings the length of terms to factor into play. Most factoring companies offer three to six-month term agreements to factor with some even require one-year contracts. It's important that you review and consider your options when considering the length of terms.[/p] [p]Be sure to choose the best fit for you. If you're confident that you won't be factoring for an entire year or that you want to explore other options after a few months, you should consider factoring with a company that doesn't have a minimum length of terms agreement. [/p] [h2] Termination Fee [/h2] [p]Let's say you have been factoring with a company for six months now. You have received payment days after hauling a load and it's been beneficial in helping you generate cash quicker to cover your expenses. Now you have ample funds and decide that you don't need to factor for the next few months.[/p] [p]The factoring company won't let you out of the contract because you agreed to factor for a certain length of time. In order for you to stop factoring, you have to pay a fee up to $1,000. [/p] [p]That's ridiculous, right? [/p] [giphy] <iframe src="https://giphy.com/embed/KE58LJF3k8jug" width="480" height="426" frameBorder="0" class="giphy-embed" allowFullScreen></iframe><p><a href="https://giphy.com/gifs/roger-KE58LJF3k8jug"> [/giphy] [h2] Choosing a Freight Factoring Company [/h2] [p]The list of factoring fees can be costly and limit your trucking company's ability to sustain a stable cash flow. [/p] [p]Before choosing to do business with a factoring company, you should take into account these potential hidden costs and fees in the fine print of a contract. Freight Factoring helps manage your trucking company's cash flow and takes the hassle away from client collections, allowing you to focus on growing your business and hauling more freight. [/p] [p]You shouldn't feel that you are being fleeced by an unusual amount of fees that you weren't aware of or deal with. <strong>Trucker Path InstaPay</strong> is freight factoring that pays you in a day with no hidden costs, fees, minimum commitments or contracts with pages and pages of fine print to sift through. [/p] [button text="LEARN ABOUT INSTAPAY" href="https://truckerpath.com/sign-up-instapay/?utm_source=blog&utm_medium=factoringfeesAug29" width="250px"]

Aug 29, 2017 • Carriers