The National Retail Federation (NRF) predicts a nearly five percent growth overall in retail sales in 2007. To keep up with consumer demand, 81 percent of retail employers plan to hire new employees in 2007, according to the CareerBuilder.com survey. With 42 percent citing the inability to find qualified workers as the biggest impediment to hiring more people, retail employers say they are increasing workplace flexibility (34 percent), wage/salaries (32 percent), benefits (18 percent) and bonuses (16 percent) to retain current employees.
While 62 percent of retail employees report they are satisfied with their current job overall, nearly 70 percent (69 percent) are either actively seeking or would be open to a new job if they came across one. "Turnover isn't a new challenge for retailers. However, as the labor pool continues to shrink and retailers feel the pressure from consumers to keep doors open longer - even 24 hours a day - many retailers are embracing more competitive hiring and retention programs," said Rosemary Haefner, vice president of Human Resources at CareerBuilder.com.
When it comes to job satisfaction, more than a quarter of workers (27 percent) surveyed feel they have been overlooked for a promotion at their current job. Forty-four percent say they are unsatisfied with their pay. One-third (33 percent) are not satisfied with their work life balance, with more than half (54 percent) saying their workload is either heavy or too heavy, and 44 percent saying their workload has increased in the last six months. In terms of career advancement, 34 percent are dissatisfied with opportunities at their current position and 36 percent are dissatisfied with the training and learning opportunities.
Nearly two million retail-specific resumes are currently posted on CareerBuilder.com and job seekers conduct nearly four million searches for retail employment opportunities on the site every month.
Haefner recommends the following tips to improve recruitment and retention efforts:
1) Break through the clutter - Treat your job posting like a candidate treats a resume. Communicate an employee brand that is accomplishment-based, highlighting growth and stability, work culture, career advancement, etc. Include testimonials from current employers aand showcase examples of employees who have worked their way to the top.
2) Get specific - The more definitive you can be in a job posting, the better your chance of attracting qualified candidates. Everyone says competitive salaries and benefits - define what that means in your organization. Outline what flexible schedules and work/life balance programs entail, specifically address the training/courses available to employees in the first quarter, first year, etc.
3) Check your workplace temperature - Measure employee satisfaction levels regularly whether it be through informal discussions or organization-wide surveys. If necessary, create action plans and implementation dates with employee input and deliver on what's promised.
