As labor shortages continue to sweep industries across the country, many are wondering which direction to take as consumer demand increases. The upcoming holiday season will only intensify the impacts of this shortage in retail, adding more pressure on brands and retailers. How will companies thrive and stand out from the rest during peak shopping season, while recruiting top-tier talent and retaining existing employees?
Right now, it’s critical to learn new ways to solve this challenge with fresh perspectives. By providing employees with incentive-based approaches such as professional development opportunities, bonuses and flexible work schedules, employers become increasingly attractive to prospective employees.
National retailers such as Walmart and CVS Health are taking immediate action by investing directly in their employees’ professional trajectories, offering incentives to obtain their college degrees or learn unique trade skills without taking on debt along the way. These reimbursement opportunities will not only encourage and motivate employees but offer them longevity in a career by arming them with a new set of skills, with loyalty to the employer that helped them get there.
In the physical retail space, adjustments must be made amid the labor shortages, with regards to efficiency and promotional offers, while paying close attention that the customer experience is not diminished along the way. Offering existing staff multi-level training, advancement opportunities, and the flexibility they need to be successful, you’ll find employees more engaged and committed to the company goals.
It’s clear as day – consumer demand has made a strong re-entrance in the wake of the pandemic, and it isn’t slowing down any time soon. As a result, retailers must remain nimble and discover creative solutions to the challenges they face today. By paying close attention to trends and identifying the benefits that attract employees, employers in retail (and employees) can succeed in our post-pandemic world, one store at a time.