There is currently a national shortage of 35,000 truck drivers due to an aging workforce, stricter trucking regulations, and a lack of interest in the business from young people. The lack of interest from young persons is one of the largest problems facing the trucking industry, regardless of the projected 70 percent revenue increase predicted over the next decade.
Although the truck driving industry advertises an attractive starting salary of $35,000-$40,000, young people are still uninterested in pursuing careers as truck drivers. The commercial driver’s license director at Clark State Community College reported holding classes for only 9 to 12 students at a time.
The reasoning that most young people site for their lack of interest in truck driving is the long periods of time spent away from home. This is also a problem for current truck drivers who are leaving trucking companies for other occupations. Current drivers are also petitioning for higher pay, better benefits, and more time closer to home. Because of this, the turnover rate of truck drivers in 2014 was 90 percent.
Trucking companies are taking major steps to increase pay, improve benefits, and alter driving routes to keep their drivers closer to their homes. They are also fighting to lower the truck driving age, since most young adults are already involved in other professions by the time they're 21-23.
TBS Factoring Service has served trucking companies for over 50 years, helping them to grow their businesses and remain successful. With current job prospects suboptimal, it is important to keep business prospects in other areas lucrative. With our freight factoring, bookkeeping, and insurance services, TBS Factoring Service is capable of offering worthwhile financial assistance to independent trucking companies and truck drivers. Call (800) 207-7661 today for more information.