Did you know that 23% of people working in retail plan or hope to leave their current employer within the next six months? And only 33% of retail workers state that they plan or hope to stay in their current roles over the next six months. As you can see, millions of American workers are feeling restless with their current jobs as they scramble to find new work opportunities. Here’s a glimpse into the minds of employees when it comes to increasing your success in hiring.
Will Increase In Pay Make A Difference For Success In Hiring Retail?
Added workplace stress with an increase in foot traffic are just a few of many reasons why retail workers are making the shift in their careers. Another factor is that several retail stores offer only part-time hours each week. With employees not being able to sustain a reliable income, the best option for many is to make the job shift.
In response, leading retail companies have been offering a sizable pay boost in order to attract candidates and provide an incentive for current employees to stay. Target is even offering up to $24 per hour in contrast to other competitors offering below $15.
Recreation, Travel & Art Industries Success In Hiring
Retail is not the only industry where employees are feeling a high level of restlessness but industries such as the recreation and travel industry and art industry are encountering a similar issue with employees wanting out.
Recreation & Travel Industries: Within the recreation and travel industry, only 37% of employees are planning to stay in their current role and 19% of employees are planning to leave.
Art Industry: The art industry is experiencing an identical phenomenon where 38% of employees are planning to stay in their current jobs while 19% are planning to leave.
Design, Transportation, Logistics, Consumer Goods & Entertainment Industries: Notable industries such as the design industry, transportation and logistics industry and entertainment industry are expected to retain only 41% of employees. While the consumer goods industry is expected to retain only 39% of employees in their current positions.
While 69% of employees are hoping for better compensation or benefits when considering a change of employment, this demand is especially seen within the hardware and networking industry with 79% of employees wanting more compensation or benefits, the entertainment industry at 76% as well as the media and communications industry at 75%.
Can You Get Success In Hiring By Offering Opportunities Or New Skills?
On the other hand, 49% of employees state that a key factor in switching employers and positions provides them with an opportunity to learn or practice new skills or expertise. This is most prevalent with employees working in the wellness and fitness industry at 65% and the recreation and travel industry at 57%.
Other employees are considering the switch due to a misalignment with their interests or values. Where 53% of potential U.S. job switchers are looking for a new employer that offers better alignment with their interests or values. This is most sought after by employees working within the recreation and travel industry at 61%, the wellness and fitness industry and entertainment industry at 60%.
Real Estate Is King When It Comes To Employee Retention!
Despite this, the industry with the highest employee retention is the real estate industry where 54% of respondents say they plan or hope to stay in their current jobs in the following six months. Of which, only 12% state that they plan or hope to make a switch.
The reasoning behind a high retention rate for real estate agents is due to their success in the current housing market. Real estate agents are able to generate high earning power in a time where sustainable income is difficult to attain. In addition, real estate agents have the ability to work on-site or remotely which provides an appeal with the integration of hybrid work as a workplace custom.
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