It appears that for the want of a truck driver, an awful lot of money's being lost. Trucking companies unable to keep their drivers' seats filled are taking a big financial hit one that can run into the millions of dollars. According to the Columbus, Ohio-based consultant Trincon Group, a 245-truck fleet with a driver turnover rate of 99 percent and 5 percent of its fleet (13 trucks) idled by lack of a driver stands to lose $1.57 million per year.
For truckers that would like to quantify the cost of the problem for their own fleets, the Trincon Group has made its Driver Turnover Cost Calculator available for free through its Web site, www.trincon.com. The electronic worksheet uses activity-based cost accounting to measure the direct costs of lost productivity and revenue associated with driver turnover, idle trucks, and time spent recruiting, orienting and training new drivers.
"We are often asked to demonstrate the true costs of driver turnover, and many people are astounded when they learn how much of an effect it can have on a company's bottom line," says Trincon President Duff H. Swain. "The calculator can quickly generate an accurate picture of the lost productivity many trucking companies face with today's high rates of driver turnover."