As the trucking industry continues to grapple with filling jobs, the Millennials could be the answer. As a group they are very diverse, which can be a benefit to the industry.
At the Truckload Carriers Association’s new WorkForce Builders Conference, held on June 30, CarriersEdge, providers of training for the transportation industry, presented the results of research indicating how age, ethnic and gender diversity can help alleviate the driver shortage.
“Millennials, the group that trucking wants to target to help with the driver shortage, represent more than one quarter of the U.S. population and have overtaken Baby Boomers as the largest generation,” said Jane Jazrawy, CEO of CarriersEdge.
“They are also the most diverse generation with 44.2% part of a minority race or ethnic group and 38% bilingual,".Jazrawy added. “Ethnic diversity is becoming a competitive differentiator. Companies with ethnic diversity have higher earnings and are better able to win top talent.”
According to research by global management consulting firm McKinsey & Company companies in the top quartile for both gender and ethnic diversity are 35% more likely to have above average financial returns and those in the top quarter for gender diversity only are 15% more likely.
Additionally a new report by the UCLA Study for the Center for Inequality and the Asian Pacific American Institute for Congressional Studies indicates that overall the fastest growing populations are non-white. Nationwide, the percentage of minorities climbed from 32.9% in 2004 to 37.9% in 2014.