Change is inevitable and to a fledgling truck business, it can be costly. Such change, which when not addressed accordingly, may even prove to be fatal. One constant woe that often gives rise to claims on truck business turnover insurance Australia policies is employee turnover. Employee retention can be notoriously hard to find nowadays. Many trucking operators often find themselves scraping their bottom line dry due to high employee turnover.
One of the most overlooked expenses of the trucking business, employee turnover does not just put a dent to your trucking business’ productivity level but more so to its financial coffers brought by costs of hiring and training. The stress level in reorientation and realigning truck driver-employee goals to your business can also prove to be stressful not just to you but to the business as a whole. Finding a solution, however, requires identifying beforehand what usually cause driver-employees to resign.
Money Changes Everything
One of the most common causes is always pointed to dissatisfaction with their income and benefits. Workers, as a whole, will always find motivation with a higher pay. Once presented with a much better offer and more benefits that include that of their family members, the more likely they will ditch you for a new employer. The important thing to do is to always monitor competitive employment package being offered in the truck driving employment market. See to it that your salary and benefits packages are aligned or comparable to standard rates in the area. Annual assessment of employee satisfaction on wages as well as benefits will also help.
Of course, it is also essential to acknowledge other perks. Think about flexible schedules or paid LOA, allowances, assistance programs during disaster, or travel incentives and other bonuses. Trucking business owners being truckies themselves very well know how these people leave from paycheck to paycheck. Providing just compensation and strong support to augment their livelihood will definitely be appreciated.
So Does Boredom
Another most likely cause of employee turnover is lack of engagement from you or your admin staff. Due to the hectic scheduling of services and varied issues being handled by just a handful of people, employee engagement often take a backseat leading to voila! High employee turnover rate, more problems in the operational level, and low employee morale. Truckies have one of the loneliest jobs in the world. In fact, mental issues are known to rise over the years in this particular sector.
To address boredom, it is crucial to keep employees engaged and motivated. Regular communication and team-building efforts must be carefully planned to ensure relationship-building. The service industry is anchored on building trust and respect. Doing the same to your driver-employees will give them the idea of your dedication to work alongside them ensuring that they are well taken cared for in the same way they do service for the company. A feedback box does come handy when trying to reach out to driver-employees.
Of course, one should not discount the challenge of building employee retention programs. Your first step should be in identifying those loopholes and find a way to address them efficiently. Bear in mind that a truck driver-employee will be less likely to leave your side when he’s well compensated, actively engaged and properly managed. As employee turnover may still be inevitable amid all these, it is wise to have a truck business turnover insurance Australia policy. Call our hotline to learn more.