Is Now the Right Time for Trucking Companies to Recruit Drivers?

2019 was a turbulent year for the trucking industry. The lag in demand forced trucking companies to lay off drivers and, in extreme cases, close up shop entirely. Our current situation with the COVID-19 pandemic has mixed things up even further. Now, with pressures coming from a number of essential sectors, the trucking industry needs to bolster its ranks to meet demands. But is now the right time to recruit drivers?

The Driver Shortage Is Real

For the past few years, there have been debates over whether the driver shortage was real or just a matter of perception. Opponents held to the line that as long as there is demand from customers and shippers, there will always appear to be a driver shortage. In our current reality, medical supplies, raw manufacturing materials, food, and other essential products are in high demand, and the country is relying on the trucking industry to deliver. Since the trucking industry is the foundation of our modern economy, many fleets are looking to increase their recruiting efforts, though there is some apprehension.

Why Recruit Drivers for a Temporary Need?

If the past few years have shown anything, it’s that there is always a need to recruit drivers. Turnover, retirement, and more always provide a need for new drivers. Compliance and more tech-oriented skill sets also contribute to the need for new drivers. As for the long-term gains, there are quite a few. The slump in 2019 was caused by artificial demand created by tariff threats. That was an outlier. The current need for fully-functioning supply chains, plus the increased demand as the economy rebounds from the pandemic will ensure that new drivers are needed beyond the short-term. Efforts to recruit drivers will be crucial over the next few weeks.

At Express Freight Finance, we understand that recruiting new drivers takes a lot of resources, which all comes back to capital. Our team provides working capital solutions to the trucking industry so fleets and owner-operators alike maintain operations and recruit drivers to meet current and future demands. Contact Express Freight Finance today to learn more about our fuel advances and factoring services.