Fast Facts About the Transport Industry
The transportation sector is one of the fastest-growing areas in the entire economy. But times have changed in the past few years, and owners are trying new tactics to run more streamlined operations, save money, and get the most out of every asset. Fleet managers are finally exploring the many benefits of electric vehicles. Another major change is that the growing edge of the transport business is not the mega-companies; it’s the smaller startups.
As the economy continues to endure high inflation, a supply chain crisis, a war in Eastern Europe, and rising interest rates, the industry is currently experiencing a massive driver shortage. One bright spot is that technological solutions, like telematics and dashcams, are serving to make fleets safer and more efficient. It’s no wonder that fleet managers are among the industry’s top earners. Consider the following points about today’s fast-moving transportation sector.
Fleet Managers are Going Electric
Fleet management is a demanding job that calls for highly talented professionals who can juggle multiple responsibilities simultaneously. Now that so many transport firms are discovering the advantages of electric cars, fleet supervisors are finding out just how much fuel they can save across a large group of commercial vehicles. Not only is electricity cleaner than fossil fuels, but it can be sourced from virtually anywhere. There’s no need to store huge amounts of diesel or gasoline on company property or buy it at retail pumps. All recharging can take place at the company’s location. For sustainability, fuel efficiency, and long-term cost-effectiveness, electric power is the next generation in the transportation industry.
There is a Severe Driver Shortage
Since 2021, the driver shortage has become more severe and now threatens to affect all segments of the industry, including over-the-road trucking, food delivery, passenger van services, and more. Lately, larger firms have begun to offer higher pay and extensive menus of benefits to new hires, and even local bus lines are encouraging people to apply for openings by offering large cash sign-on bonuses.
Technology Rules the Day
In the past decade, all types and sizes of transport firms have boosted productivity, safety, and efficiency with technology. Devices and systems like dashcams, telematics communications, GPS, computerized vehicle routing, and in-cab video coaching are just a few of the many ways that tech has revolutionized a commercial segment that for decades saw little advancement in its technological makeup.
Fleet Supervisors are Top Earners
Fleet managers earn top pay within the industry compared to many other lines of work. One reason is that, in addition to a driver shortage, there’s also a manager shortfall. This fact is particularly apparent in small to mid-size delivery and trucking companies, where turnover is high and good drivers always tend to be in short supply. With starting salaries and bonuses that total more than $100,000, the supervisory niche of the employment scene offers the potential for diligent, experienced managers to command some of the highest pay rates in any of the non-professional job sectors. It often happens in companies that former drivers train for and take over the supervisory role after being on the road for a number of years.