2017 Transportation Industry Risks

Fluctuations in oil/energy concerns, legal liability and complying with government regulations are among the issues concerning transportation companies more than businesses overall.

With an aging workforce and the potential for road fatigue, having drivers ready to meet business demands is a challenge facing the transportation industry. Transportation companies reported concerns about risks related to employees and driving. More than half of transportation companies (57%) are concerned about accidents caused by employees. Distracted driving, inexperienced drivers and the general health of the workforce are also concerns.

Attracting and retaining employees also concerns transportation companies. Specific concerns include the cost/time involved in training, the ability to retain talent in a competitive labor market, and the ability to attract and hire qualified workers. With more than half of transportation companies (52%) reporting the use of personal vehicles for business, 56% are worried about potential business liability if an employee is in an accident while using a personal vehicle for business.

Looking to the future, transportation companies expect the changing workforce, energy dynamics and driverless vehicles to present the greatest emerging risks over the next three to five years. Telematics and other technology innovations have the potential to protect their business, but must be right-sized.