Published on July 18th, 2016 | by The GC Team0
Retail job market declines but salaries rise
Second-quarter data from job site CV-Library reveals that salaries in the retail sector are increasing but the job market has taken a step backwards.
Figures from the last quarter show a 1.5% decrease in job vacancies compared to Q2 2015, and a further 12.3% decline in candidate applications.
The sector also reported a 4.8% rise in salaries, suggesting that businesses are increasing pay in order to attract new recruits.
“The retail sector has recently been plagued with instability, so it’s now more important than ever that retail organisations focus on not only offering higher salaries, but also highlighting any key incentives they can offer candidates and advertising the things that make their workplace culture unique,” said Lee Biggins, founder and managing director of CV-Library.
“We know that money isn’t everything to job hunters and that happiness at work often outweighs salary. Candidates are equally attracted to workplace perks, job satisfaction and company culture when applying for jobs and businesses should utilise this.”
Biggins added that there has been much speculation about the economy surrounding the UK’s decision to leave the EU last month, “but it’s too soon to draw any firm conclusions about the future,” he said.
“What is clear from this data is that retail organisations need to pull out all the stops to attract candidates, and though job creation is also down, salaries are on the rise, which is positive news for candidates.”