South Bend, IN October 31 Stay Metrics, a leading provider of evidence-based driver engagement, training and retention solutions for motor carriers, reports that its clients significantly outperformed their peers for driver retention during a pivotal second quarter.
The American Trucking Associations reported driver turnover at large carriers increased by 16 percentage points to reach 90 percent, and turnover at small carriers (under $30 million in revenue) increased 19 points to reach an 85 percent annualized rate from April to June.
Stay Metrics reports that clients that use its Driver Rewards and full suite of Driver Survey products saw a small tick in driver turnover by two percentage points, on average, from 58 percent to 60 percent from Q1 to Q2. Stay Metrics used the same method as ATA to calculate turnover rate.
“Driver turnover surged as freight demand picked up in the second quarter. We are pleased to see our customers significantly outperform the industry,” said Tim Hindes, co-founder and chief executive officer of Stay Metrics.
Hindes continued, “We attribute this to the fact that many of the carriers who partner with us already have a driver-centered culture or are intent on building one. Using the data-driven platforms, driver survey feedback, and insights we provide, our clients are then able to further improve the experience of drivers at their companies. In turn, their drivers are more likely to stay.
The Driver Survey platform from Stay Metrics includes 7-day and 45-day onboarding surveys to identify the early expectations, experiences, and satisfaction levels of new drivers to help prevent early-stage turnover. The platform includes an annual Driver Satisfaction survey that shows carriers their areas of strength and weakness based on peer grouping and year-over-year trend analysis, as well as Exit Interviews that capture the reasons why drivers leave — in their own words.
We are pleased to see our customers significantly outperform the industry.
Stay Metrics Driver Rewards is a custom online platform that uses evidence-based rewards, recognition and driver engagement tools to encourage loyalty to a carrier. Drivers accumulate points in various rewards categories and redeem them towards thousands of non-cash items ranging from movie tickets to vacation packages.
Family members of drivers often become involved in the program and advocate the driver to stay with a carrier to reap the benefits of the rewards, recognition, and status the driver has earned.
“More carriers increased their focus on driver retention as the winds changed direction in the second quarter,” added Hindes. “The rise in freight demand, ELD rule compliance and other factors have created challenging conditions for driver recruiting and the conditions will likely continue into 2018. The good news – based upon our clients’ results – is that carriers can be successful despite these headwinds.”
About Stay Metrics
The Stay Metrics driver engagement platform helps trucking companies engage, reward and keep their best drivers. Stay Metrics offers an industry-leading suite of driver feedback interviews and surveys, combined with advanced data analytics and predictive modeling focused on driver retention. Driver engagement is further enhanced when carriers use a custom-branded loyalty rewards program developed by Stay Metrics to recognize driver performance. The platform also supports safety and wellness training and serves as a communication and resources hub for drivers. Learn more about Stay
Metrics at http://www.staymetrics.com