After the public health crisis of 2020, trucking companies became one of the supply chain heroes keeping America’s economy going. Truckers transported essential items across the country, ranging from food to technical supplies. Now, they are responsible for transporting millions of vaccines as states race to reopen safely. So, could 2021 be a better year for truckers than 2021?
Truck driving schools have had to close, reopen and operate at half capacity at various times of the pandemic. This made it difficult to attract and train new drivers to address the growing driver shortage in the industry. With roughly 15% of the American population now vaccinated, more states will relax COVID-19 restrictions, helping more drivers to make it out of the classroom and behind the wheel.
To be fair, neither owner operator truckers nor big fleet corporations were short of work in 2020. However, workers suffered extreme burnout because of how few people were available to work. Not surprisingly, this growing pressure caused many truckers to resign in 2020. As more drivers come in and the economy restarts, drivers and trucking companies will have a better work-to-driver ratio that makes more work more welcome.
Big trucking companies have learned the importance of lean operations and have turned to better fleet management and logistics tools to make it happen. Some companies have turned to technology to manage in-house operations or have outsourced the function entirely. This has led to more efficient operations. Companies can use that extra profit to re-invest in the business or attract more workers with higher wages and better benefits.
Not all trucking news points to good developments in the industry. Most trucking companies predict that insurance costs will continue to rise as insurance companies leave the industry. At Rev Insurance, we are here to stay and are committed to helping drivers and fleet companies save on insurance. Get your quote today.