New Predictive Modeling System from Omnitracs Designed to Mitigate Truck Driver Turnover
Omnitracs, LLC, a global pioneer of fleet management solutions to transportation and logistics companies, has announced Omnitracs ELD Driver Retention Model, a predictive modeling solution that allows companies to identify and retain truck drivers who are most likely to voluntarily leave their jobs
The stakes are high, in 2015, industry-wide driver turnover reached 95 percent. Google estimates the cost of onboarding to be around $5,000 per new driver.
With the ELD Driver Retention Model, fleet owners and managers can proactively engage at-risk groups with targeted remediation programs and reduce turnover in the highest risk groups by up to 80 percent.
“The Omnitracs ELD Driver Retention Model allows fleets of all sizes to reap the benefits of predictive modeling to prevent driver turnover and address the root causes of voluntary termination,” said Brad Taylor, Omnitracs vice president of data and IoT solutions. “In a 500 driver fleet, preventing just half of the voluntarily turnover in the most at-risk group of drivers saves nearly $29,000 per month in direct hiring costs.”
Omnitracs ELD Driver Retention Model uses the extensive data that companies are already collecting through electronic hours-of-service (HOS) applications to detect subtle changes in driver habits, which can then be key indicators of their desire to voluntarily leave their jobs. These individual driver logs produce more than a thousand pieces of data related to hours worked, customer site delays, lack of hours and amount of activity on the clock. What’s more, the ELD Driver Retention Model can leverage not just Omnitracs’ own HOS data, but HOS data generated by competitive solutions.
The ELD Driver Retention Model is the first of a suite of solutions from Omnitracs to help the fleet management industry capitalize on the Interstate of Things™—Omnitracs’ vision for the industry to capture, understand and manage data created from the connected devices in the entire transportation industry, including trucks, streetlights and toll roads, in order to make more efficient, data-driven decisions.
Omnitracs also arms users with the knowledge and techniques to enable fleets to manage fatigue at the driver and organizational level. Users can proactively engage drivers through training and intervention programs to increase driver safety and satisfaction, improve driver-manager relationships and ultimately prevent driver turnover. Truck drivers who attend sleep classes and participate in intervention programs consistently show improved productivity and safety outcomes. Those drivers are also 30 percent less likely to voluntarily terminate their employment, have half as many loss-of-control accidents and five times fewer “run-off-road” accidents, compared to drivers lacking sleep education.
Omnitracs ELD Driver Retention Model was designed for any size fleet using electronic HOS management applications.
About Omnitracs
Omnitracs, LLC is a global pioneer of fleet management, routing, and predictive analytics solutions for private and for-hire fleets. Omnitracs’ nearly 1,000 employees deliver software-as-a-service-based solutions to help more than 50,000 private and for-hire fleet customers manage nearly 1,500,000 mobile assets in more than 70 countries. The company pioneered the use of commercial vehicle telematics over 25 years ago and serves today as a powerhouse of innovative, intuitive technologies. Omnitracs transforms the transportation industry through technology and insight, featuring best-in-class solutions for compliance, safety and security, productivity, telematics and tracking, transportation management (TMS), planning and delivery, data and analytics, and professional services.
Category: Driver Stuff
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