Monthly Driver Recruiting Trends – June 2021

Monthly Driver Recruiting Trends – June 2021

The following metrics are sourced from truck chauffeur recruiting campaigns handled by Randall-Reilly. Recent trends are detailed listed below in an effort to examine chauffeur work activity.
In the previous 12 months, the network of special Driver Recruiting Landing Pages maintained by Randall-Reilly were gone to by over 4 million users. Over 3.1 million distinct users checked out utilizing a mobile phone, over 700k visited using a computer system, and over 105k gone to using a tablet.
For Driver Recruiting projects handled by Randall-Reilly:

Drivers sent 889k special leads through Randall-Reilly ad campaign.

310k distinct chauffeur callers made 431k special call leads to fleets.

Company chauffeur, owner-operator, and teams are all on rate to drop ~ 10%.
Trainee projects are on speed to drop 25%.

Summary
The freight market stays extremely favorable for trucking business: freight volume stays truckload and elevated rates are forecast to be up 16% in 2021 vs. 2020. Nevertheless, it is still challenging to maximize these favorable conditions by hiring the motorists required to transport more freight due to the huge variety of employers seeking chauffeurs and an absence of chauffeurs in the market.
Although lead costs (CPL) stay raised, they have reduced from their highs in April.


High lead expenses continue to drive traditionally high hire costs (CPH).

The average expense of working with a business motorist is more than twice as high as it remained in either May 2019 or May 2020.
Work with expenses for owner-operators in May remained elevated however dropped 18% from April.

With lead costs easing, employ costs in June and July might start seeing some relief. Increased traffic on driver recruiting landing pages show that drivers are trying to find opportunities, however they are claiming the pay, advantages, and house time they want.
[1] June statistics are drawn from campaign efficiency in between June 1 and 15.

All significant driver types except for owner-operator are on rate to decrease.
Trainee campaigns are seeing the largest MoM percentage decrease in May, showing that possible chauffeurs have an interest in beginning driving as driving schools increase capability.

Average general CPL in June is on speed to decline by 4% month-over-month (MoM).

Average CPH stays 46% greater than two years earlier (to compare to a pre-pandemic year).

Typical general CPL in May is on speed to decrease by 7% month-over month (MoM).

Click Cost Averages

Click expenses (CPC) stay elevated, but through the very first half of May, both Search and Facebook CPC are on rate to decline MoM. Browse click costs for May and June are closer to 2019 levels than what has been seen in some time, while Facebook is on pace for its first reduction in CPC since January.

In general, truck transportation is still down ~ 35,000 tasks from pre-pandemic levels. General long-distance TL freight carriers have actually been the most impacted in overall numbers: they are down over 22,000 employees from 2 years ago (to compare to a pre-Covid time) in spite of freight demand being likely above 2019 levels. General regional freight providers are the only trucking subsector that has increased work in that timeframe, likely due to both a shift in demand to shipment of large items and drivers wishing to drive regional routes.
New truck orders are continuing to be postponed due to lacks of semiconductors and other parts. As a result, for trucks bought in April, the estimated typical time from order to shipment was simply under 12 months. Conditions are expected to improve in Q4.
Scarcities of both motorists and brand-new trucks are pressing active truck utilization levels to 100% for Q2, and levels are anticipated to be at or above 99% in Q3 and 97% in Q4.

Other Digital Trends Multicarrier lead applications are on speed to increase by almost 50% MoM in June. This, particularly when noting that the conversion rate and typical session period are both increasing in June, further recommends that motorists are more thinking about discovering a new driving job than they have been in the past few months. All three metrics are on rate to be at their acme considering that a minimum of March.
The count of overall users on hiring landing pages built by Randall-Reilly continues to grow, but most of this boost is because of increased marketing invest.

Click the image listed below to download a PDF of the full report.
The post Monthly Driver Recruiting Trends– June 2021 very first appeared on Randall-Reilly. This content was originally published here.

Market Information [2] Little has actually altered in the outlook for trucking business in the previous month: freight volumes and rates are expected to be extremely high through a minimum of completion of the year; however hiring chauffeurs remains very tough, and truck demand is significantly outmatching supply due hold-ups in brand-new truck production.
FTR forecasts truckload (TL) rates to be up ~ 16% YoY in 2021, and rates in 2022 to only decrease 2.7% from 2021s record highs. LTL rates are forecast to be up ~ 12% YoY with a minor decrease in 2022 from 2021s rates.
In raw numbers, the truck transport industry added 10,800 jobs in May. However since truck transport employment typically rises in the spring, the seasonal change algorithm expected 12,700 jobs to be included, resulting in a seasonally adjusted work decrease of 1,900 tasks. This suggests that fewer jobs were added this May than in previous years. Prior years seasonal patterns may not hold after an enormous shock like Covid-19, so seasonal patterns might have altered.

Hire Costs & & Rates High lead expenses continue to drive historically high hire costs (CPH).
The typical expense of hiring a business driver is more than two times as high as it remained in 2019 or 2020. High lead costs are driving this boost: the hire rate remains better than in both 2019 and 2020. It is worth keeping in mind that hire rates have actually been lower over the past couple of months, recommending that drivers searching for a new job have lots of employment choices and can be very selective.
Employ expenses for owner-operators in May remained elevated but dropped 18% from April. In May 2021, average CPH was 46% higher than in May 2019.
Hire information by driver type is just readily available from March 2019 and onwards.

[2] Market details taken from: FTR. “Trucking Update: June 2021.” 28 May 2021, FTR.
Kingston, John. “Did trucking jobs rise in May? It depends.” 4 Jun 2021, freightwaves.com.
Miller, Jason. LinkedIn postings (multiple). May 2021, Michigan State University.
U.S. Department of Transportation. “Drug & & Alcohol Clearinghouse: April 2021 Monthly Summary Report.” 20 May 2021, FMCSA.

External Market Trends The number of truck driving tasks posted on job boards rebounded in May while the variety of overall companies searching for chauffeurs remains very raised, showing tasks need to have very competitive advantages to be attractive to motorists. Both the variety of tasks published and the number of job hunters increased by 10%, so there was little change in the variety of hunters per task.
Compared to May 2019, there are 172,000 more job postings (+86%), but 236,000 fewer chauffeurs are looking for these tasks (-16%).

While Display CPC continues to increase, some context is needed to much better understand the information. Randall-Reillys digital marketing group has been adding in a various type of Display product that has a higher CPC however has a much better click-through rate (CTR) and on average produces a lower CPL. These greater CPC/lower CPL projects are comprising a much higher portion of spend in Display than they did in 2019 and 2020.

The average expense of working with a company chauffeur is more than twice as high as it was in 2019 or 2020. It is worth noting that hire rates have actually been lower over the past couple of months, suggesting that motorists looking for a new job have lots of work options and can be very selective.
This, specifically when noting that the conversion rate and average session duration are both increasing in June, additional recommends that chauffeurs are more interested in discovering a brand-new driving job than they have been in the past few months. The number of truck driving tasks posted on job boards rebounded in May while the number of total employers looking for motorists remains very raised, suggesting jobs need to have very competitive benefits to be attractive to motorists. General regional freight carriers are the only trucking subsector that has increased work in that timeframe, likely due to both a shift in need to shipment of large products and drivers desiring to drive regional paths.

CTR for all three channels is up in June, suggesting that drivers are trying to find tasks with greater intent than they have actually been in previous months

Expense Per Lead Averages
Typical lead expenses (CPL) are alleviating from their highs in April, however it remains difficult to get driver leads in the current market. Overall lead costs dropped 3% MoM in May and are on rate to decrease another 4% in June.
All four significant chauffeur types are on rate to have a lower CPL in June than in May. Trainee campaigns are seeing the largest portion drop (-25%), while projects targeting company chauffeurs, owner-operators, or team motorists are all on pace to drop ~ 10%.
While there might be numerous factors in the easing of CPL, it deserves keeping in mind that lead costs surged after the extension of $300-a-week unemployment supplement in March and now they are relieving as twenty states are ending their approval of the $300-a-week payment in June. It is essential to keep in mind that correlation is not causation, but it is a factor to think about as numerous more states will end their supplemental payments in July, and the program is set to end in early September for the rest of the nation.


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