The trucking industry is undeniably resilient, though we have encountered some setbacks in recent years. According to the American Journal of Transportation, the sector is experiencing a shortage of more than 80,000 drivers due to several factors, including higher demand for drivers, an increasingly retiring workforce, and fewer new drivers entering the industry. However, amidst these challenges lies an opportunity for innovation and growth.

More than 80% of communities in the U.S. rely exclusively on trucks to receive essential goods. As consumer expectations and purchasing behaviors evolve, the demand for freight drivers grows. In the trucking industry, the need for a skilled and reliable workforce is crucial. Carriers must implement strategies to promote employee retention and bridge the workforce age gap to continue delivering needed goods.

Incentivize current employees

The economy ranked as the top concern for the trucking industry in 2023. As inflation, interest rates, and diesel prices continued to rise, drivers increasingly valued compensation above other work-related benefits. 

For many fleets, ensuring employee satisfaction is vital to retaining a strong workforce. One strategy to encourage retention and deliver compensation is the implementation of retention bonuses. Also referred to as a retention package, an employer provides a lump sum of pay in addition to an employee's regular salary to motivate experienced personnel to stay for a specified period. 

Financial incentives are not the only motivating force for drivers, though. Revising routes to make schedules more appealing, allowing pets in the cab, and implementing internal awards or recognition programs for top-performing drivers can be effective ways to foster a positive and desirable work environment.

Engage the next generation 

As the average age of freight drivers increases and 10,000 Baby Boomers retire each day, the industry must explore strategies to engage with younger generations and emphasize the profession’s value. Understanding the needs of emerging demographics is the first step in developing an ideal workforce. 84% of younger drivers consider company culture important. Showcasing a well-defined company vision and workplace culture provides value to prospective hires and inspires current employees to contribute to overall organizational success. 

Advocating for a lower driving age limit can create a larger talent pool and encourage young drivers at the onset of their careers. Current federal regulations allow states to issue a commercial driver’s license to anyone over 18 but prohibit truck drivers from crossing state lines until turning 21. By engaging with local representatives involved in transportation legislation and supporting legislation that accommodates drivers, such as the Safe Driver Apprenticeship Pilot Program, fleets can aid in removing roadblocks to growing the pipeline of the next generation of drivers. 

Invest in and communicate with the workforce

Focusing time and effort on staff development and training pays dividends. Comprehensive driver training programs contribute to higher job satisfaction and internal growth opportunities while illustrating that the fleet values drivers’ professional development. Prioritizing driver training is an investment that improves safety, efficiency, and employee retention for fleets. Further, it increases morale which in turn contributes to a positive company culture.

It can get lonely on the road. Drivers want to know they’re appreciated, what is going on in the company at large, and how they contribute to its success. Regular calls with drivers—not simply emails—keep them engaged and invested in the organization.

While there is no one-size-fits-all solution to overcoming the driver shortage, engaging with and supporting existing drivers while adopting new strategies to attract and retain a younger generation will be key to building a stronger, more stable workforce.