Market Report Identifies Hiring and Sales as Top Challenges in Trucking Heading into 2023
Survey fielded by Rose Rocket finds leveraging technology to impact key challenges found to be a top 3 investment for both carriers and brokers
Rose Rocket, a market leader in cloud-enabled TMS software, today announces the release of its market research report featuring proprietary research data, market data, and aggregate Rose Rocket TMS usage data to inform a comprehensive outlook on trucking industry trends. A proprietary survey was fielded to carriers and brokers aiming to identify their experienced challenges and approaches to solving them, the industry’s most time-consuming tasks, top investments, top technology used, and the leading industry news and research sources.
Between labor shortages, global supply chain disruptions, and skyrocketing fuel prices, the trucking industry has experienced unprecedented volatility since the pandemic began. 53.5% of respondents from both carriers and brokers found hiring and retention to be a top challenge heading into 2023. While carriers are projected to face higher employee churn than brokers, turnover is not isolated to drivers. Aggregated product use data shows an increase in turnover in broker organizations, suggesting that companies are facing retention concerns in all positions, including sales and back-office.
Of the survey respondents who called out hiring retention as a top challenge heading into 2023, 36% felt that improving hiring programs is the preferred approach, 18% felt improving company culture would help, while 11% opted for improving pay and incentives. While the transportation industry has certainly felt the impacts of COVID and economic uncertainty, many of the top challenges have remained constant from pre-pandemic times.
In 2023, inflationary pressures and reduced market demand are significant considerations for sales teams. When asked how they plan to remedy slower sales amid market volatility, 29% of respondents feel that acquiring new customers through cold calling is the top approach to building business, followed by 18% feeling that better communication with existing customers will increase revenue, and nearly 10% are looking to retain current customers through improved service performance.
The resulting analysis provides a benchmark that teams can use to measure themselves against, understand the current market conditions, inform future technology decision-making, understand challenges with companies of various sizes, and better plan future technology investments.
About Rose Rocket
Rose Rocket is a leading provider of enterprise-grade transportation management software (TMS) for trucking companies and 3PLs. Its network-driven TMS allows trucking companies to leverage their network of drivers, customers, and partners to unlock visibility and capacity. Additional product offerings include industry-leading driver mobile app, customer and partner portal technology, and an open architecture that allows for native integrations, EDIs, APIs, and more.
With Rose Rocket, trucking companies and 3PLs add efficiency and automation at every step of the transport process, allowing for growth through network optimization. Rose Rocket operates in the United States and Canada, catering to carriers and brokerages that have LTL, FTL, hybrid, and multi-division service offerings. Rose Rocket is proudly headquartered in Toronto.
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