Companies across various industries grapple with critical issues surrounding driver recruitment and retention. These conditions have forced organizations to rethink their strategies for hiring and retaining their workforce. In this blog, we uncover current trends shaping the industry in 2024, as well as steps your company can take to elevate your driver retention program and successfully scale.
Key Employment Trends Shaping 2024
As we move through 2024, several key trends will continue to shape the landscape of workforce management.
Persistent Labor Shortages
Labor shortages remain a significant concern, with 65% of human resources (HR) professionals noting it as one of their top three challenges. As organizations strive to address these shortages, many have turned to alternative hiring methods, such as leveraging contractors and gig workers. This approach introduces new risks that must be managed within these organizations’ risk and safety programs.
Upskilling and Reskilling
With nearly four million baby boomers retiring annually and the unemployment rate consistently at or below 4%, the competition for hiring drivers is fiercer than ever. To address the knowledge gaps left by those who have retired, organizations are focusing on upskilling and reskilling younger generations. This approach is particularly critical in industries like transportation, where a large portion of the workforce is over 45.
Focus on Retention
Given the scarcity of qualified candidates, organizations are prioritizing the development and retention of their current workforce over attracting new talent. This has created a greater need for sustainable risk management and targeted driver training strategies to maintain safe, qualified and committed drivers.
New Insights into Driving Risks and Behaviors
To develop more effective driver retention strategies, it's essential to gain a deeper understanding of the existing dynamics and needs of your workforce. Companies can do this by analyzing driving trends.
SambaSafety's latest 2024 Driver Risk Report: Key Trends Shaping Automotive Mobility analyzes over 40 million motor vehicle records (MVRs) utilized for employment and insurance purposes from 2020 to 2023. The report reveals how driving risks vary with age, providing a basis for using violations and behaviors to develop more targeted training programs.
Ages 18 to 25: This youngest group of drivers holds the second-highest rate of violations, making up 25.2% of the total violations observed. It includes the lowest percentage of alcohol or drug-related offenses but the highest number of speeding-related violations.
Ages 26 to 35: As drivers enter this second age group, the overall violation rate increases slightly to 25.3%. The report uncovers higher instances of driving with a suspended license, driving under the influence and texting while driving.
Ages 36 and Up: As drivers age, the rate of major violations, such as speeding, rapidly declines. However, maneuver violations, such as phone use while driving, become even more common.
Access the Full Report Here! | Download SambaSafety’s 2024 Driver Risk Report
With these insights, companies can create more effective intervention programs by assigning targeted training that mitigates behaviors unique to each age group. Furthermore, those who have complete visibility into all violations and dangerous driving behaviors can establish even more comprehensive programs.
The Impact of Driver Monitoring and Training
Speeding violations alone increase the probability of a crash by 1.2 times within the next 12 months. If companies have ongoing insight into these violations, they can assign targeted training to correct specific behaviors such as speeding – before the driver causes a crash.
Moreover, with deeper visibility into ongoing driver behavior, companies can correct risky behaviors before these specific violations even occur.
How do companies access this insight? With continuous driver monitoring.
SambaSafety conducted an efficacy study of over four million drivers, analyzing violation activity before and after monitoring. In this study, continuous driver monitoring and training prove to be highly effective in reducing violations:
Driver Monitoring: SambaSafety's study shows that driver monitoring can significantly reduce violations, with a decrease of 32% after 12 months and 42.5% after 24 months.
Driver Monitoring and Training: Integrating training with monitoring further enhances safety, with violations decreasing by 77% within 12 months of the first training course.
In addition to these risk management tools, improving driver retention will require a multifaceted approach that addresses every stage of the employment cycle – from recruitment to ongoing development and recognition.
Uncover Additional Trends Impacting the Industry
By understanding these trends and implementing effective strategies, businesses can navigate the complexities of hiring and retention in 2024 and beyond – ultimately fostering a skilled, resilient and adaptable workforce.
Watch our free webinar, "The State of Driver Risk in 2024: Critical Discoveries for Fleets & Insurers" below to explore the latest trends in insurance, hiring, retention and compliance. Discover how these factors influence driver risk and learn proactive strategies to help your team stay ahead.
