As the country’s main supply line, HGV Traffic forms the working backbone of the UK economy and the ability to trade with European partners. It should come as no surprise that the much-publicized shortage of heavy-duty truck drivers in recent years has created a serious problem.
At the peak of the shortage in late 2021, the shortage was estimated to be between 60,000 and 100,000 drivers in the UK.[1] Now, with rampant inflation and the energy crisis, it is imperative to bring supply lines back under control and move goods across the country.
However, the price of HGV training courses can be a barrier for many potential drivers. Flexible financing options will help increase access to the training needed to overcome his HGV driver shortage in the UK. This solves national problems and at the same time helps people earn money for a better standard of living.
how did we get here
The shortage of truck drivers across the UK is by no means a new phenomenon. The retirement crisis has been looming for years due to the aging of HGV operators. At the same time, the industry is struggling to attract younger generations. This is often due to the initial costs and time associated with obtaining proper training and licenses.
The issue was masked within the industry by the fact that a large number of drivers were EU workers, many of whom had returned to their home countries after Brexit. The number of his HGV drivers employed in the UK fell by 30,300 in the first quarter of this year, according to research.[2] The growth of e-commerce and online shopping for groceries is putting additional pressure on the supply chain. In short, more and more of the country’s population depends on an underhanded profession: his HGV driver.
Providing sustainable solutions
The issue has received attention in both the private and public sectors, with a combination of legislation and salary increases making some difference in raising the number of new hires. Visa grants were largely unsuccessful, proving that the focus must be on domestic training rather than temporary overseas employment.[3]
This month, the government announced proposed changes to inspection rules[4] This makes training courses easier for new applicants, takes less time, and removes bottlenecks in the process. One of the simpler issues, however, is the cost of driver training.
This is where financing options can make a real difference and help the service sector, especially when customers are facing a cost of living crisis.
Flexible Finance Drives Supply Chains
Providing affordable payment structures for those wishing to (re)train as truck drivers provides a simple and quick solution to the affordability problem facing future drivers.
Financial providers such as Deko, who offer multi-product, multi-render platforms, can alleviate the cost of new drivers. Importantly, this also provides important support for retailers. Improved payment options will help training providers build demand.
Offering multi-render, the Deko can cover a wide range of basket sizes, so you can cover a wide range of courses. This differs from traditional financial providers who have limited coverage, both in terms of basket size and repayment terms.
Providing solutions
By breaking payments into multiple installments, financial providers like Deko can make a real difference in recruiting new employees nationwide. This is essential to solving the truck driver retirement crisis, ensuring that an entire generation has access to the right training at the right cost.
Importantly, improved payment options could be key to helping the UK population face a cost-of-living crisis to upskill. salaries will rise, increasing demand for training centers across the country.
author: Huw Phillips, Head of Sales
[1] https://research.senedd.wales/research-articles/delivering-the-goods-can-we-solve-the-hgv-driver-shortage/
[2] https://logistics.org.uk/media/press-releases/2022/may/hgv-driver-shortage-persists-but-recruitment-initi
[3] https://fullfact.org/news/boris-johnson-HGV-driver-petrol-crisis/
[4] https://www.telegraph.co.uk/news/2022/08/04/motorists-could-allowed-drive-lorries-without-extra-test-brexit/
