There are two pieces to an effective Driver Employment Strategy - a Driver Retention Program and a Driver Recruiting Program - and together these programs work in concert to maintain optimal driver staffing levels while requiring the minimal amount of resources (capital and personnel).
Think of a Funnel. The large end is your Recruiting Program, the small end is your Retention Program.
The relationship between the two ends is important to understand. Increasing investment in the large end of the funnel does not improve Retention performance. It simply opens up the funnel wider to increase the flow of applicants into the company. When faced with high Driver Turnover, many companies respond by investing additional money in their recruiting efforts hoping to increase applicant flow to the point that offsets the flow of drivers out of the company.
On the other side of the funnel however, increasing investment in your Retention Program can have a significant impact on your Recruiting costs. The more effective your Retention Program becomes, the less resources your company needs to invest in recruiting.
Many companies that become strapped for drivers throw more money at recruiting and ignore the powerful impact Driver Retention has on stabilizing the work force and reducing overall costs (recruiting costs and costs associated with driver turnover).
To successfully compete for scarce driver resources, companies need to place as much or more emphasis on retention as the do recruiting. That requires having a formal, funded Driver Retention Program that assigns high level accountability for Retention.