The need for truck factoring companies is multiplying continuously, and the trucking industry is becoming one of the fastest-growing fields. This field has always been attractive to individuals who are devoted, persistent, and determined to make a difference in the company they work for and in their world. This is about drivers, who use their hard work, skills, and dedication to making the business easier and more productive for everyone around them. The field, so far, has responded by generously rewarding them with reasonable salaries and benefits. Consequently, many company owners and managers in this industry have also enjoyed their productive and financially rewarding business.
So when things are going well, what exactly are the number crunchers who say there is a driver shortage in the truck industry missing out on? What exactly is making the math fuzzy anyway? What are the hindrances to getting the fact straight? Let’s break these puzzles down into perceivable pieces and examine the major areas of concern, without getting too agitated at this point.
The basis for a company’s reputation rests in an existing policy and how the company calculates, manages, and applies those policies in crucial areas of business. Unfortunately, the truck companies seem to follow a different notion when it comes to “turnover and “churn”, that prevents any changes needed to benefit the drivers, hire new drivers, or promote existing employees based on their performances. All these notions point out the variance that can exist from one industry to another. When the Society for Human Resource Management construe turnover rate as the percentage of people quitting the company in question and churn rate as a percentage of people hired to fill vacancies, most trucking companies justify the driver shortage by defining their own terms. To them, turnover is literally absent for the most part and is being replaced by churn rate- the factor that costs the company the money it would be spent advertising the job, recruiting potential drivers, background checking, and letting them weed through the training process. This is completely in contradiction with any industry’s norms that the SHRM governs. Eliminating the percentage of retirees fired employees, and employees who go back to schools when calculating the turnover and churn rates make these terms more obsolete.
Another factor that misleads the observers is the fact that the American Trucking association – the main lobbying agency for trucking companies, simply compare the amount of freight to the available drivers irrespective of the truckload freight growth that was seen in the recent years, leaving more room for reasonable suspicion over driver shortage situation that has been pestering aspirant drivers.