A recent study from fleet management company, Geotab has found that 68% of commercial drivers report that work-related stress negatively impacts their performance. Driver performance has a huge impact on your bottom line; from deadlines being met, to preventing accidents, and more. So, in the era of rising costs and performance being more important than ever, what does this research have to say? In this article, we take a look.  

Geotab’s research: 

According to Geotab, the financial ramifications of driver stress should not be ignored. Its research found that driver stress “leads to increased costs, reduced efficiency, and higher risks for everyone on the road. The financial impact is significant, including higher insurance premiums, potential legal liabilities, and increased fuel and maintenance costs.” 

It also found that:  

• 78% of commercial drivers feel that that stress and mental health contributes to road dangers.  
• 34% have considered leaving their job in the past year.  
• 68% would support new technology that would help with their driving performance.  
• 26% admitted to regularly speeding to meet deadlines.  

The cost of poor driving. 

Poor driving – such as speeding and overloading – might mean a few deadlines are met quicker, but overall, it’s not worth the risk. The financial ramifications include: 

• Higher maintenance costs 
• Faster wear and tear 
• Reduced fuel efficiency 

Overall, this is going to lead to your fleet’s expenses rising, and the frequency of replacing vehicles or their parts increasing. Likewise, the “average cost of a large truck crash involving a fatality can reach up to $3.6 million.” Prioritizing safety is both the ethical and economical thing to do.  

The cost of driver turnover.  

Work-related stress doesn’t just lead to adverse driving conditions. It also leads to higher rates of turnover. Turnover can be incredibly costly to organizations, especially when certain commercial drivers require special training or licenses. Some research even indicates that the loss of a single driver can cost companies between $10,000 and $20,000. 

How do you prioritize drivers amidst rising costs? 

Clearly, its critical to prioritize your drivers stress levels and job satisfaction. Failing to do so is expensive and dangerous. However, with so many other costs rising, and your budget spreading thinner, how do you manage this? 

Optimizing your fleet’s other expenses, without compromising quality of service, allows you to focus more on your drivers and your profitability. Expenses like fuel and telematics can be analyzed and monitored on an ongoing basis to ensure you’re spending fair market rates, and never a penny more. Working with a third-party expert in fleet management expenses can help save you time and money on this front.