How Do U.S. Labor Force Demographics Influence Fleet Managers?
Trucking fleets today operate with a variety of challenges; U.S. labor force demographics, the federal government’s deregulation of the industry in the 1980s, and, in a related sense, the vastly increased level of market competition.
Long-time fleet managers have had to overhaul their business models to survive and to thrive on this new financial landscape, which, based on current trends, will continue with increased competition and driver shortages.
We at iGlobal LLC, a premier technology company, specialize in providing solutions for transportation, logistics and distribution. We will explore the economic aspects of changes in the industry and how fleet managers can adapt to the new marketplace.
Fleet Managers Face Changing Labor Force
Some 7 million people in the U.S. are employed in the trucking industry; nearly half (3.2 million) work as truck drivers. The U.S. labor force is made up of nearly 156 million people; 8.9 million are listed as unemployed yet driver shortages has been a top concern in the industry for nearly a decade and rose to number two in 2014.
Paying Trucking Drivers
Hiring drivers is only the first part of a larger and more complex problem; the other part is driver retention. This trend has led fleets to attempt to entice prospective drivers from other fleets with more attractive benefits and working conditions.
The challenges facing the industry are complex and will require unique and creative solutions – many of which fleet managers have already begun to employ. One facet that is sure to be an integral factor in fleet profitability is the utilization of communication technologies, which will allow fleet managers to streamline their operations and significantly cut waste and eliminate on hold or other non productive time.
iGlobal LLC’s Mobile Data Terminals will lift your business to the next level in this highly competitive marketplace and set you apart. We build hardware and develop software that resolves critical business problems, especially those involving fleet management and communication technologies.
Go to our Products tab or call today for a demonstration! We will continue exploring issues relating to the issues and events and how they may shape the industry.