Stay Metrics, provider of driver retention tools, announced a new indicator for trends in early-stage driver turnover.
The new Stay Days Table serves as a “survivor” chart that shows the number of drivers hired by carriers each month and the percentage remaining at specific milestones after their date of hire—30 days, 60 days, 90 days, etc. This table allows Stay Metrics to follow specific cohorts of drivers and to show how well carriers are retaining them over time.
Early driver turnover is an industrywide problem. Approximately 60% of the more than 3,000 drivers from 89 carriers hired in January 2018 did not make it one year with their carrier. Retention trends seem to have remained consistent throughout the year so similar results are expected for each month’s cohort.
These statistics come at a time when the driver shortage is of critical concern to motor carriers. According to the American Transportation Research Institute’s 2018 Top Industries survey, the driver shortage is the number one issue faced by carriers. Unsurprisingly, driver retention is also high at the number three spot.
The Stay Days Table saw a slight increase in retention for drivers hired in September and later. One possible explanation is that these drivers wanted to avoid changing carriers during the upcoming holiday season. Data from the next few months will show if these fourth quarter hires match other groups’ retention percentages when they hit later milestones.
Stay Metrics has a number of products that enable motor carriers to proactively address the root causes of early-stage driver turnover. Its orientation survey, typically given to drivers after a week on the job, serves as an effective way to measure if recruiters are setting realistic expectations and the quality of the orientation experience. An early driver experience survey, most often taken between six to eight weeks after orientation, identifies areas of early disconnect and job dissatisfaction.
If a driver’s response to any survey questions indicates an elevated risk of leaving, Stay Metrics sends their carrier immediate alerts to address the concern. Stay Metrics’ client-facing website also gives carriers full visibility to individual survey responses with reports that identify changes in driver attitudes or perceptions toward their jobs based on early experiences. Even a driver’s refusal to take a survey is a signal of potential turnover. On average, drivers who do not take the surveys are 10% more likely to leave their carrier.
See www.staymetrics.com for more details.