Driver retention

Driver clearinghouse Tenstreet acquired by Providence Equity Partners

Tenstreet, a leading provider of driver recruiting software and workflow solutions for the truckload industry, announced Monday morning that it was acquired by Providence Equity Partners, a private equity firm. Spectrum Equity, which took a stake in Tenstreet in 2016, was a seller in the deal, although it retains a material equity position in Tenstreet.

Financial terms of the deal were not disclosed, and Tenstreet would not report metrics like revenue or EBITDA. The company has 132 employees on...

https://www.freightwaves.com/news/driver-clearinghouse-tenstreet-acquired-by-providence-equity-partners

Successful driver recruitment is multifaceted issue

The driver shortage is nothing new. The lack of qualified drivers entering the industry — coupled with a workforce on the precipice of retirement — has been a major concern for carriers across the industry over the past several years. This long-standing issue was only exacerbated by the coronavirus pandemic, which prompted some existing drivers to retire early while temporarily closing CDL schools to new entrants.

The continuing shortage — along with the industry’s infamously high turnover rates...

https://www.freightwaves.com/news/successful-driver-recruitment-is-multifaceted-issue

Driver recruitment, retention require multifaceted approach

The driver shortage has been a hot topic for years, consistently topping the list of carrier concerns. In today’s historically tight market, this shortage of qualified drivers is now causing more problems than ever. 

“This driver shortage is nothing new. We have been dealing with this for years,” said Nicole Heron, DHL Supply Chain driver recruiting center manager. “The average age of drivers has reached the mid-50s, so we are seeing more drivers approaching retirement age. With COVID, we have...

https://www.freightwaves.com/news/driver-recruitment-retention-require-multifaceted-approach

Pride Transport announces 3rd driver pay increase

Salt Lake City-based reefer fleet latest to install pay bump

Refrigerated carrier Pride Transport announced Tuesday it is implementing its third driver pay increase in the last 12 months. Starting Friday, cumulative pay increases totaling 10 cents per mile will allow its drivers to make $70,000 annually.

The midsized Salt Lake City-based carrier said over-the-road drivers will now earn between 51 cents and 75 cents per mile. The new fleetwide pay scale represents a 20% increase from rates paid prior to the pandemic. The carrier’s prior two increases were...

https://www.freightwaves.com/news/pride-transport-announces-3rd-driver-pay-increase

TFI needs drivers at leaner, meaner UPS Freight successor

A parked TForce Freight truck with a UPS Freight in the background.

TFI International bought UPS Freight with plans to make the LTL carrier “lean and mean,” a turn of phrase CEO Alain Bédard likes to use. While the company is implementing that strategy, including recent cuts to salespeople, one thing it needs more of is truck drivers. 

As of late July, Montreal-based TFI (NYSE:TFII) was employing 5% fewer Teamsters members — about 10,540 people — in the rebranded TForce Freight than the 11,100 UPS (NYSE:UPS) had as of Dec. 31, according to a recent SEC filing....

https://www.freightwaves.com/news/tfi-needs-drivers-at-leaner-meaner-ups-freight-successor

Viewpoint: How to fight the talent war in freight

This commentary was written by Peter Rentschler, CEO of CarrierDirect. The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

By Peter Rentschler

Someone is recruiting your employees, and your employees may be looking for new jobs. What are you doing to keep them?

According to Prudential’s Pulse of the American Worker Survey, an estimated 25% of workers are planning to look for a new job “once the threat of the pandemic...

https://www.freightwaves.com/news/viewpoint-how-to-fight-the-talent-war-in-freight

Tips for recruiting drivers and driver recruiters — Taking the Hire Road

DriverReach Director of Sales and Services Wendy Bartz fills in for CEO Jeremy Reymer on this week’s episode of Taking the Hire Road, welcoming to the show Josh Mecca, director of recruiting at American Central Transport (ACT). The two discuss tips for driver recruiting — and what to look for when hiring a driver recruiter — among other topics surrounding retention and the ongoing driver shortage.

Not everyone is cut out to be a driver recruiter, as the job has many demands and requires one to...

https://www.freightwaves.com/news/tips-for-recruiting-drivers-and-driver-recruiters-taking-the-hire-road

Leveraging driver choice to recruit, retain and produce — Taking the Hire Road

Peter Covach, industry solutions adviser at Trimble, joins this week’s episode of Taking the Hire Road to talk about driver choice and how it fits into the driver recruitment and retention process, among other topics he discusses with host Jeremy Reymer, founder and CEO of DriverReach.

A carrier’s profitability plays a major role in the range of choices it can extend to drivers, but so do other preferences. Covach said a lot of times conversations with drivers get stuck in the weeds on...

https://www.freightwaves.com/news/leveraging-driver-choice-to-recruit-retain-and-produce-taking-the-hire-road

Biden vaccine mandate may worsen low driver retention rates

An emergency rule being developed by the U.S. Department of Labor mandating vaccines or weekly testing for workers at companies with 100 or more employees is likely to exacerbate the already low driver retention rates in the trucking industry.

“Some of the biggest companies are already requiring this — United Airlines, Disney, Tyson Foods and even Fox News,” said President Joe Biden in announcing the new requirement at the White House late Thursday. “The bottom line: We’re going to protect...

https://www.freightwaves.com/news/biden-vaccine-mandate-may-worsen-low-driver-retention-rates

Federal money earmarked for truck safety in FY21 tops $380M

U.S. regulators announced on Wednesday $76. 2 million in grants aimed at preventing truck crashes, bringing safety funding allocated in FY21 to more than $380 million.

The most recent grants, awarded by the Federal Motor Carrier Safety Administration to state agencies and educational facilities in all 50 states, the District of Columbia, and U.S. territories, includes $45.2 million in competitive high-priority (HP) grants to advance technological capability and promote intelligent transportation...

https://www.freightwaves.com/news/federal-money-earmarked-for-truck-safety-in-fy21-tops-380m

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