![]() ![]() Despite having traditionally rigid shift schedules, the industry is recognizing the importance of flexible work arrangements to retain employees. The pandemic has prompted many to reconsider their work approach, including those in retail. Some common factors that can contribute to poor working experiences in retail include low wages, limited benefits, poor working conditions, and limited opportunities for career advancement.įor example, if employees feel that they are not being paid fairly for their work, or if they lack access to benefits like health insurance or paid time off, they may become dissatisfied with their job and look for employment elsewhere. When employees are unhappy with their job, they may be more likely to leave and seek employment elsewhere. Poor working experience can contribute to a high average retail turnover rate. If your employees cannot envision a long-term future with your organization, they will be less driven to perform well and are less likely to stay. People are less attached to your company and its principles if there is no clear path forward. Unfortunately, many store employees are unaware of these opportunities and lack access to resources to develop their skills. On the other hand, more than a quarter of Gen Z and Millennial employees who want to change jobs cite a lack of opportunities and growth in their current position.Īlthough the retail industry may seem ideal for “casual” workers with limited career prospects, there are opportunities for advancement. report, more than 40% of retail employees who leave do so for new career opportunities. Lack of career opportunityĪccording to the McKinsey and Co. Here are some key causes of turnover in the retail industry: 1. The reasons can range from immediate and visible consequences to long-term, subtle effects that accumulate over time. So we know that turnover is a problem in the retail industry, but why? A combination of several factors can contribute to high turnover rates. Why is the turnover rate in retail industry high?
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