Fleet Management News & Business Info | Commercial Carrier Journal
Issue link: http://read.dmtmag.com/i/795447
commercial carrier journal | march 2017 35 Using ELD data Drivers may not be aware that social media can be used to predict turn- over, and it's not the only data source. Omnitracs Analytics has developed an ELD Driver Retention model that extrapolates more than 1,000 variables from hours-of-service data in electronic logs. HOS data might indicate that drivers are dissatisfied with their jobs due to fatigue or variability in their work schedule. What fleet manag- ers might not understand is how to talk to currently employed drivers about something they haven't done yet – quitting. Information from the ELD Driver Retention model is reported through Omnitracs Analytics' Driving Center online portal designed to identify drivers with the highest turnover risk, the reasons why and suggestions for how to remediate. Managers can use this information to reach out to drivers proactively and have a discussion. "e idea is to have a positive nontransactional conversation," says Lauren Dominick, director of analytics and modeling for Omnitracs Analytics. A manager would start by asking how the driver is doing. Aer listening, the manager could offer suggestions and help resolve problems caused by stress, fatigue or inconsistent work schedules. Increasing engagement Other approaches to predictive modeling are more transparent, such as gathering feedback from driver surveys and interviews. e data col- lected likely will be an accurate reflection of their mood. "We know that behavior follows engagement, and surveying drivers both increases their engagement but also gives us important insights into controllable causes of turnover," says Tim Judge, director of research for Stay Metrics, which provides an evidence-based driver engagement plat- form, research and analytics designed to help fleets retain drivers. While it is possible to predict which drivers will leave and why, there is an inherent value in the transparency of the data collection process and when drivers see managers act on feedback they provided. "During our quarterly consultations with fleets, we translate re- sults from the model into practical strategies and prescriptions that will reduce turnover," said Tim Hindes, chief executive officer of Stay Metrics. "We hold our clients accountable for acting on their data to increase driver engagement and satisfaction and to move their needle for driver retention." AARON HUFF is Senior Editor of Commercial Carrier Journal. E-mail ahuff@ccjmagazine.com or call (801) 754-4296. TransVix, DAT form strategic alliance to create line-haul futures exchange T ransVix and DAT Solutions announced a strategic alliance to create a Trucking Futures Exchange to list and trade con- tracts based on trucking line haul rates. e TransVix Exchange will list contracts that are financially settled using DAT's data for major U.S. freight lanes. TransVix said it is focused on addressing volatility in line haul freight rates, where spot prices can swing as high as 40 percent in a single week on some major lanes. Truck capacity volatility can be driven by a host of market conditions such as weather, seasonal- ity, regulations and macroeconomics. Brokers, carriers and shippers all face the same challenges when it comes to volatile spot rates and are exposed to market condi- tions without viable hedging options to man- age price risk, the companies say. "We have observed supply-and-demand fluctuations and periods of significant truckload capacity constraint over a period of years, and we recognize the financial risk that our customers face," said Don ornton, senior vice president of sales and marketing for DAT. TransVix is partnering with DAT to provide participants with risk manage- ment tools to help hedge their freight lane exposure. DAT data will be used to help develop TransVix's trucking futures, which will allow market participants to normalize price fluctuations. "DAT is the truckload pricing index standard for the North American trucking market, and it makes perfect sense for us to partner with them," said Craig Fuller, chief executive officer for TransVix. – Aaron Huff INTERESTED IN TRUCKING TECHNOLOGY? Scan the barcode or go to www.goo.gl/Ph9JK to subscribe to the CCJ Technology Weekly e-mail newsletter.