On top of ongoing issues with the global supply chain, the US logistics industry is up against an ongoing truck driver shortage and rising shipping costs. This is due to many factors, including fuel costs and the higher wages and benefits companies are putting out to attract drivers.
With consumer demand increasing, the truck driver shortage isn’t expected to alleviate any time soon. Several factors exacerbated the shortage, including a lack of young talent entering the field and the current pool of drivers reaching retirement age.
Logistics companies have options to combat this problem, including offering more competitive wages, sign-on bonuses, and better benefits packages, but there is another option. Autonomous freight can be a solution to relieve the burden of the truck driver shortage and meet the current demands.
How the Truck Driver Shortage Impacts Logistics
Based on research from the American Trucking Association, the2021 driver shortage capped at 80,000 drivers. If demand continues to exceed availability, the industry could be short 160,000 drivers by 2030.
This shortage isn’t caused by only one factor, however. Current drivers are approaching retirement age and fewer young candidates are venturing into trucking, due to the demands and poor work-life balance. Nearly 25 per cent of the current commercial driving workforce will reach retirement eligibility in the next decade.
Furthermore, electronic logging device (ELD) mandates, which impact how many hours a driver can be behind the wheel, put more pressure on the current driver pool. The FMCSA Drug and Alcohol Clearinghouse also restricts around 65,000 drivers from driving commercially.
Industry demand is increasing, and drivers are retiring without a steady flow of young candidates or qualified drivers to replace them.
Are Competitive Wages and Benefits the Answer?
Logistics companies are trying to combat the truck driver shortage by making the field more attractive to young, qualified candidates. Companies are offering competitive wages, enhanced benefits packages, and generous sign-on bonuses to bring in new drivers.
The compensation isn’t the only problem, however. Younger candidates are often deterred from the field because of the poor work-life balance and the time away from home. Companies are working to correct these issues by offering better work-life balance, improved facilities, and lower wait times on top of attractive compensation packages.
Autonomous Freight Can Be a Solution
Autonomous freight, or self-driving trucks, are an all[1]inclusive remedy to the ongoing truck driver shortage, the rising costs and demand for shipping, and the hazards of the road.