Companies that run an active fleet may have some of the highest turnover rates among any industry. You can joke and say that truck drivers are inherently nomadic and this may well factor into the issue, the real core of the problem is that there are very few companies that can successfully create a rewarding environment of maintenance, policies, company culture, and pay rate to make these valuable professional drivers feel at home. Fleets across the country have been striving to find better ways to improve driver retention. However, better than any big new facilities or impressive looking policies is actually listening to your drivers, meeting their expectations, and providing what they really want and need from a fleet employer. To help you get ahead on driver retention improvements, here are a few insights into what will really make a difference to your drivers.
Fuel cards are one of the most convenient aspects of the modern trucking industry. They ensure that every driver can get fuel when they need it, don’t have to worry about receipts or reimbursement, and that all company-related refueling stops are charged to the correct account every time. Unfortunately, fuel card fraud is also one of the biggest problems faced by companies with fleets all over the world. From being used to fill non-fleet vehicles to actively being hacked by illegal card-skimming devices, your company could be losing hundreds to thousands of dollars every year to fuel expenses that aren’t being used to run your vehicles. Naturally, you need a prevention plan.
Crude oil prices ended 2017 at just over $60/barrel; a level not seen since June 2015. December’s prices were relatively flat during the first half of the month followed by a gain of approximately 4% to end the month. Prices have now increased almost 28% from the start of September. The following graph shows the daily price movements over the past three months: