Shortage of drivers in trucking industry

Heartland Express exposed that the trucking industry has faced a shortage of drivers in North America.

Competition for qualified drivers remained a challenge in 2022 and is expected to be a challenge in the future due to the declining number of qualified drivers in the industry. 

However, Heartland Express references that driver availability began to change in late 2022 and has continued into 2023 as a result of the changing economic and freight environments, and this company believes that certain drivers have moved from smaller, less financially stable carriers to more financially stable carriers and from independent contractors to company drivers.

Although there has been an increased movement of drivers between companies in the industry, the driver shortage problem in the industry continues.

Consequently, the industry driver shortage has required, and may continue to require, companies to spend more money to attract and retain truck drivers and owner-operators. 

For example, Ryder System Company indicated that it is experiencing higher labor costs due to labor shortage challenges in all of its business segments.

Shortage of drivers

Heartland Express continually explores new strategies to attract and retain qualified drivers with changing market conditions and demands. 

It hires most of its drivers with at least six months of on-road experience and a safe driving record. 

In addition, the company’s driver training program provides an additional source of potential future professional drivers. 

To attract and retain experienced drivers who understand the importance of customer service, Heartland Express has sought to solidify its position as an industry leader in driver compensation in its operating markets and for the services it provides. 

Compliance and enforcement of the initiatives included in the CSA program implemented by the FMCSA and regulations adopted by the Department of Commerce related to driver time, safety and fitness could further reduce the availability of qualified drivers. 

In addition, like most in its industry, Ryder System suffers from a high driver turnover rate, especially with respect to company drivers.

Meanwhile, with respect to owner-operator drivers, due to the absence of long-term personal service contracts, owner-operators can quickly terminate their business relationships with the company.