Trucking professionals worrying who will be the next generation of drivers to keep the trucking industry’s momentum moving are not alone.

According to a recent report issued by The Council of Supply Chain Management (CSCMP), an epic driver shortage is indeed on the horizon. By 2011, there will be an estimated 400,000 unfilled trucking jobs — a fact recently echoed in a CNNMoney.com article that stated, “Can’t find a job? Maybe it’s time to take your search to the road.”

So, what’s causing the concern, and what will a shortage mean for transportation professionals?

First of all, three specific situations are creating the shortage:

1.    Economic Recovery

As the U.S. economy begins to rebound, freight is at its highest level in years and should continue to increase. At Getloaded, we have noticed a huge increase lately, and have hundreds of thousands of loads available. The result? With more freight on the road comes a greater need for drivers to move it.

2.    New regulations like CSA 2010

With its heightened focus on safety, CSA 2010 will target those carriers who’ve previously gotten away with unsafe driving standards. The regulations will provide new ways to judge and punish irresponsible or dangerous behavior behind the wheel — and could put up to seven percent of drivers out of a job.

3.    Drivers reaching retirement age

One in six drivers are age 55 and above. As these professionals begin to retire, new drivers will have to replace them. According to the CSCMP report author Rosalyn Wilson, “We're going to need 1 million drivers in next 15 years just to deal with replacing retirees and the normal growth of freight.”

And while knowing the causes behind the shortage can help avoid a pitfall in the industry, most transportation professionals worry what the driver shortage will mean for them. The answers lie mostly in simple supply and demand.

The lack of drivers on the road is already resulting in:

1. Higher wages for experienced truckers

With fewer eligible drivers — and more available loads — experienced drivers should be able to earn higher salaries during the shortage.

2. More expenses for carriers, with the chance for more revenue, too

If the loads are there, but no drivers to deliver them, carriers will work hard to bring on new hires. A recent Business Expectation Survey by Transport Capital Partners LLC revealed that 80 percent of carriers experiencing a driver shortage are spending more on recruiting, and many are increasing driver wages, as well.

3. Slower business for brokers

When loads are easier to find, brokers’ services are no longer relied upon as frequently. The Transact Capital Partners survey also revealed that nearly 80 percent of carriers have reduced their reliance on brokers in the past quarter.

No one knows for sure how drastic the shortage will be, but all signs point to a serious scarcity of drivers in the next year. So, we want to know:

What are you doing to prepare?

How do you think the shortage will affect your business? Our country?