Driver Recruiting & Retention Assessment
Understanding Your Greatest Asset
Every carrier knows that the strength of their business depends on attracting, hiring, and retaining safe, productive, and loyal drivers. This challenge has cycles, but never seems to subside entirely. It is critical to create a company environment and recruiting and retention strategies that harmonize with the company’s requirements and operating profile.
The best way to achieve goals in this area is to have all the data necessary to better understand which tactics work well and identify areas for improvement. KSM Transport Advisors’ Driver Recruiting & Retention Assessment identifies and documents current company and contractor/driver recruiting practices and results and provides an analysis and benchmarking of current recruiting strategies. Short-term recommendations are then made along with a roadmap for increasing the number of drivers hired and retained to meet a carrier’s capacity goals.
No matter how it’s calculated, the cost of unmanned trucks is high. Industry groups regularly report the cost to man a truck at around $11,000. We view it a little differently and calculate how much additional margin would be generated if the truck was occupied. Based on our experience, this number – margin, not revenue – regularly comes in at $900-$1,200 per week. Simply put, carriers cannot afford unmanned trucks.
Assessing Your Strengths
The “soft” tactics are under control – a welcoming company environment, a strong management team – but when was the last time you reviewed your recruiter staffing needs, job descriptions, social media presence, applicant tracking system (ATS), and other electronic tools? Do you have a good understanding of when and how to effectively use advertising for the best return on investment? If the answer is no, you’re not alone.
KSMTA can assess all this and more, including driver recruiting management metrics, driver recruiting branding, hiring results, onboarding processes, driver turnover rates, and current retention processes. Our assessments also cover:
- Incremental margin per unmanned truck calculation
- ATS configuration and utilization
- Recruiting and retention culture
- Industry benchmarks of driver productivity and compensation
- Expectation setting for new hires
- Driver pay package evaluation
Effective recruiting and retention practices are a key element of profitability and should be well-planned and regularly monitored. Contact us to assess your current situation and learn how to improve your hiring and retention goals.