Unfortunately, trucking companies should have started with the implementation of employee retention strategies far before the truck driver shortage took place.
These days we can see that truck driver shortage is threatening the potential and the future of the overall trucking industry. That is the reason why more and more trucking company owners are looking forward to finding out which the best employee retention strategies that keep Truck Drivers on board are.
Simply, trucking companies should create a retention strategy that will protect their most valuable assets. And by doing so, to make their trucking company be a destination point to the best truck drivers in the USA.
Hence, if a trucking company hires the best truck drivers and provides them the best benefits and working environment, then those trucking companies will be confident that their truck driver is highly committed and productive in their work.
Further, in this article, you will have the chance to read more and find out which the top 10 employee retention strategies are. The strategies that I have included in this article will definitely lead you to keep truck drivers on board.
So, let’s take a look!
What is Employee Retention and Employee Retention Strategies
Employee retention cannot be explained with a simple sentence. It requires much more.
Thereupon, what I can tell you now is that employee retention strategies should be implemented by trucking companies starting from the very first day that they get a rookie truck driver joining their fleet.
Every now and then, employee retention can refer to various practices and policies that are allowing truck drivers to stay for a longer period of time in the company.
A trucking company owner who wants to run a successful trucking company should have in mind retaining his top talent truck drivers.
What happens when trucking companies are looking their best truckers?
Once a trucking company loses its best performing truck drivers it will limit its productivity and will damage the ranking of the company as well.
Later on, if we take a look at the turnover facts and figures, then we can understand why employee retention strategies are of a great importance for all trucking companies:
- One in 4 rookie truck drivers will leave within the first 6 months;
- More than 50% of truckers recruited by a trucking company will leave within 2 years;
- Almost 70% of trucking companies have reported that truck driver turnover has brought a negative impact on the overall work;
- 50% of all trucking companies in the USA are facing with problems of employee retention;
Thereupon, employee retention strategies include, but are not limited to the following facts and figures: salary levels, compensation issues, wage, incentives and so on.
1. Worldwide Trends in Employee Retention Strategies
All trucking companies worldwide are facing similar challenges and views of the importance of employee retention strategies. Yet, there are differences in the trucking industry and truck driver behavior from one region to the next.
Nevertheless, the retention of quality employees has become a global issue.
So, since the U.S. trucking industry is not the only one that is facing with this type of problems, straight proportionally it can see an example from trucking industries worldwide and implement some of the employee retention strategies that they are using successfully.
Thereupon, trucking companies worldwide are weighing the benefits of their truckers’ inclusion, engagement, and appeal of the work-life balance.
So, employee retention strategies are essential in strengthening the compensation components and the advancements of truck drivers.
Trucking companies with the implementation of retention strategies are meeting the needs and expectations of highly experienced and talented truck drivers.
The worldwide trends indicate that the key strategies for employee retention include:
- Recognition of employee contribution;
- Providing a healthy work-life balance;
- Develop career strategies;
- Offer competitive salary and benefits;
Hence, both cultural and national differences must be taken into account when implementing employee retention strategies.
2. Understand Why Employees Stay
The first step that trucking companies should take into consideration before they start with the implementation of employee retention strategies, is understanding why employees stay in a certain trucking company for a long period of time.
Yet, understanding why truck drivers stay with a certain trucking company for a long period begins with a very simple task- conducting surveys.
For example, you can start a survey in your trucking company and see the real side that your truck drivers will reveal to you. Wonder whether it is going to be the flexibility or salary increasement? You will find out soon. You just have to ask them and wait for an answer.
After you have conducted the needed survey you will have to be open to a feedback. It is what can give a proper shape to the internal policies in your trucking company.
3. Help Employees Feel Valued
Only remarkable trucking company owners, that is to say, leaders can help employees feel valued.
Truck drivers are in fact the ones that are contributing in a high percentage to the company’s success– it is one of the reasons why trucking company owners should make them feel respected and valued.
In general, truck drivers trust and believe in the owners who are leading the trucking company in which they are working.
Thereupon, truck drivers can notice a remarkable trucking company owner with the help of the following facts:
- A real leader keeps the lines of communication open;
- He will share his vision for the future of the company with his truck drivers;
- Will offer exceptional opportunities for development and training;
- Will show respect for those they lead;
Moreover, by helping your employees feel valued you will experience long-term employees. Long term-employments are beneficial both for trucking companies and for truck drivers.
4. Invest in Truckers’ Professional Development
Professional development can equip truck drivers with new skills, help them gain and maintain at the same time a professional accreditation. In addition, it can provide truckers with an opportunity to take their career in a way better direction.
Moreover, trucking companies should start investing in their truck drivers if they want to retain them.
Investing in truck drivers means providing them with opportunities to attend a range of professional development training, help them increase their productivity through new ways of working and stay up to date with the latest technologies and regulations.
Hence, trucking company owners should be aware that by investing in their truck drivers they are in fact investing in their company. By undergoing additional training, truck drivers will be in the position to:
- Perform flexible delivery to minimize the time that they spend away from the workplace;
- Achieve high-level skills development to meet the needs of the trucking company;
- Apply immediately their new skills in the workplace;
Thereupon, trucking company owners should offer tailored training and development that will meet the specific needs your trucking company might have.
5. Establish Clear Expectations
The results of establishing clear expectations are eye-opening.
Thereupon, trucking company owners by establishing clear expectation to their truck drivers will help truckers in the perception of what was expected from them in a given task.
Every now and then, setting expectations can be a big deal for some truck drivers- they can take it uncomfortably.
On the negative side, if a trucking company does not give clear expectations in place to their truck drivers, then truckers will be set up for inevitable issues on the road.
Also, by not having a clear grasp of the job duties, truck drivers can damage the morale of the trucking company.
In general, owners should assign specific responsibilities to specific truck drivers in order to keep their team on task.
Trucking companies can establish clear expectation in the following way:
- Define specific expectation;
- Communicate with no room for confusion;
- Set realistic goals;
- Review regularly-focus on achieving the set tasks;
6. Express Effective Leadership
Leaders who are capable of expressing effectively their leadership skills are the ones that can motivate and elevate the success of trucking companies.
Great leaders are the ones who know how to find balance in their desire and intensity of work. Straight proportionally, the very first point that all leaders should have in mind is listening.
Yes, listening is a leadership responsibility, one that might be seen as the most effective among truck drivers and their careers.
Thereupon, showing truck drivers what your vision is, and suggesting the ways to perform the vision is an expression of an effective leader.
Leaders in all industries, especially in the trucking industry, should be able to clearly and effectively formulate and give directions for truck drivers.
So, leaders in the trucking industry should not forget to take initiative, request more responsibility, and target specific skills in truck drivers.
7. Offer A Beneficial Benefits Package
Offering beneficial benefits package is one of the best retention strategies that keep truck drivers on board.
More precisely, trucking companies should improve truck drivers’ compensation, that is to say, the salary and the bonuses for achieving safety, service as well as department goals.
Thereupon, here is what truck drivers want to receive from the trucking company for which they are working for:
- Medical and dental insurance- covering the prescription drug plan and flex spending program;
- Retirement plans- 401k retirement plan with company match;
- Profit sharing plan;
- Life insurance;
- Company bonus program;
- Vacation- 1 year of service- 80 hours per year; 5 years of service- 120 hours per year; 15 years of service-160 hours per year; 25 years of service- 200 hours per year;
- Employee crisis fund;
- Employee assistance program;
Simply, trucking companies should take into consideration everything that will serve its truck drivers and will keep them on board.
8. Celebrate Achievements and Dedication
Each trucker wants to be part of a successful trucking company. It is why trucking company owners should try to lower the turnover rate of their fleet by making truckers feel that they are contributing to the success of the company. Which they actually are.
Henceforth, due to the truck driver shortage trucking companies nowadays are in lack of truck drivers, more precisely they are in lack of truck drivers who are ready to provide the needed dedication.
So, when a truck driver is dedicated enough to its duties, he will achieve success.
Thereupon, due to this fact, trucking companies should celebrate the dedication and the achievements of their truck drivers.
Yet, doing little things all the time to show the appreciation you feel for your truck drivers is one of the best employee retention strategies that trucking companies can take.
9. Thoughtfully Connect With Your Truck Drivers
Truck drivers who have a strong connection with the owner of the trucking company for which they are working are the ones that stay on board the longest.
In addition, truck drivers are the biggest and more important asset that trucking companies have.
So, the best way that trucking company owners can get close to their truckers is a sincere conversation and a regular communication.
Therefore, if you consider that your truck drivers are truly valued by your trucking company, straight proportionally you have to show it to them.
Moreover, a great start towards achieving a thoughtful connection with your team of truck drivers is a recognition of anniversaries, birthdays and other significant events to truckers.
Personal connection is definitely a key to getting people to stick around for a longer period of time.
When employees have a personal connection with owners and other employees then they enjoy their work and are more likely to spread a good word about your trucking company.
10. Lastly: Learn Why Employees Would Stay In Your Trucking Company
By learning what benefits and values would keep your truck drivers in your trucking company, you will be in the position to set the best employee retention strategies.
Moreover, trucking companies when looking forward to keeping truck drivers on board should try to go beyond the physical perks.
In general, truck drivers who have the needed talent and experience are looking forward to having the autonomy to execute what they need to do. When truckers are empowered in the right way, then they will be able to perform their duties with motivation and dedication.
At the end of the day, you as a trucking company owner should know how to approach your truck drivers in order to learn what can retain them.
To enumerate, employee retention strategies are a must, especially during this period of time, when the trucking industry is facing the truck driver shortage.
After all, there is nothing better and rewarding for truck drivers than to hear from their boss that they are performing a good job and that what they are doing is contributing in a large scale to the success of the trucking company.
Trucking company owners should never make the mistake of assuming that their truck drivers stay in their company solely for money. Truck drivers look beyond money. Try to be a true leader for your truck drivers.
Lastly, if you have implemented employee retention strategies so far, please feel free to share your experience and tactics that have led you to success in the comment box.
The post Top 10 Employee Retention Strategies That Keep Truck Drivers on Board appeared first on Fueloyal.
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