Historically, driver turnover rates have aligned with freight market conditions. When freight rates and volumes are going up, turnover increases from drivers searching for better job opportunities. During a recession or periods of uncertainty, drivers tend to stay put.
True to form, in March 2020 driver turnover screeched to a halt when states issued lockdown orders attempting to slow the spread of COVID-19.
Stay Metrics (SM), which is now part of Tenstreet, tracks the retention rates of drivers on a monthly basis. The retention rate of drivers hired by carriers in March was higher than any month in 2019 or 2020.
