Retail's Revolving Door
By Staff -- Gifts & Decorative Accessories, 6/1/2007
Hang onto your hat — and your staff. It's rough out there. Almost half of retail employers (48 percent) say it is harder to keep employees this year compared to last year, according to a recent survey conducted by Harris Interactive for CareerBuilder.com. Some 28 percent of retail employees plan to leave their current jobs within the next year, and 46 percent plan to leave within two years.
Even those who aren't acutely unhappy may still be headed out the door: though 62 percent say they are satisfied overall, 69 percent say they are either actively seeking a new job or would be open to one if they came across one.
Why are they leaving? Top gripes include lack of career advancement opportunities, unsatisfactory pay, increased workload and work/life balance concerns.
Meanwhile, 81 percent of retail employers plan to hire new employees in 2007, and 42 percent cite the inability to find qualified workers as the biggest impediment to hiring more people. In order to retain existing employees, retail employers are increasing workplace flexibility (34 percent), wages/salaries (32 percent), benefits (18 percent) and bonuses (16 percent).
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