What Do Today’s Retail Employees Really Want?

When most people think of retail, they think about bustling high streets and shopping centres. But behind the scenes, the retail industry is facing a challenge: holding onto its valuable employees.

During (and in the aftermath of) the pandemic, we saw a record number of people leaving their jobs in search of something new, and the retail sector was hit particularly hard. But, why is it so hard for retail brands to keep employees? And what strategies can they put into place to retain top talent? Here’s what today’s retail workers really want.

What do employees want from their employers?

Hint: It’s more than just a paycheck! Whilst a competitive salary is undoubtedly important, today’s retail employees are looking for more than just good pay – as that’s seen as a given.

They want to feel valued, appreciated, and supported in their roles. They want to work for companies that align with their values and offer opportunities for growth and development. In short, they’re seeking a fulfilling work experience that goes beyond the transactional “work and get paid”.

Beyond the Paycheck: The rise of non-salary benefits.

This shift in employee expectations has led to a rise in the importance of non-salary benefits. These perks and benefits can play a major role in attracting and retaining top talent in the competitive retail landscape. Savvy retailers are realising that a great benefits package can be just as important as a competitive salary when it comes to hiring in retail.

What are the three most sought-after employee benefits?

Whilst the specific needs and benefits that employees value most will vary depending on their individual needs and priorities, some of the most sought-after perks include flexible working arrangements, generous annual leave allowances, and opportunities for professional development.

These benefits demonstrate a commitment to employee well-being and work-life balance, which are increasingly important to today’s workforce.

The Salary vs. Benefits Debate

Ah, the tough one – which is more important, salary or benefits? The answer is both. Both play a necessary role in attracting and retaining great employees.

A competitive salary is essential for attracting top talent, especially for store manager jobs and other retail senior appointment recruitment. But, if a great candidate is choosing between two brands, a strong benefits package and great company culture can be the deciding factor.

The Power of Perks

Attracting new staff aside, did you know that offering great benefits can also significantly impact employee morale and productivity, as well as helping you to retain existing employees? It’s simple – when staff feel valued and supported, they’re more likely to be engaged in their work and committed to the company’s success.

Benefits like flexible working arrangements, pet-friendly offices and hybrid working (where possible) can also improve work-life balance, reducing stress and increasing job satisfaction.

Creating a Winning Benefits Package

Creating a winning benefits package means going beyond the basics and truly understanding what matters to your employees. Of course, competitive salaries are a must, especially for those in-demand positions such as store manager and head office jobs, but don’t stop there.

Offering health insurance shows that you care about your employees’ well-being, whilst generous holiday allowances, sick leave and mental health days demonstrate your commitment to work-life balance. To show your team that you’re truly invested in retaining them for the long haul, you should also offer a great employer pension contribution, as this will assure them that their financial stability is secured for later down the line too.

Beyond the typical perks, you could also get creative. Think about what else you could offer that will make your brand a truly great one to work for. Employee discounts and wardrobe allowances are always a winner, especially for in-store roles where you want your team to represent your brand.

Other perks to consider may include wellness programs, such as cycle-to-work schemes, discounted or free gym memberships or on-site fitness classes, as these can contribute to both physical and mental well-being.

To show your team that you’re invested in their growth within the company, you should also invest in professional development opportunities – think training programmes, mentorship opportunities and further education.

Finally, don’t underestimate the power of social events and activities. Outside of the usual team-building activities, try to provide opportunities for your team to get to know each other better in a fun, relaxed environment. This will not only feel like a perk of working for the business, but also help everyone to get along better professionally, too.

Is flexibility important in a job?

Wondering if flexibility is really necessary? The short answer is yes. People have busy lives outside of work, and being a flexible and understanding employer is a major draw for top talent. Flexible working arrangements, such as remote work options, flexible scheduling and the ability to switch shifts easily will make all the difference, especially in retail recruitment, where long hours and weekend work are often the norm.

How to retain employees for a long time?

Retaining your top employees isn’t just about ticking boxes with a benefits package – it’s about cultivating a company culture where people truly want to stay. Think of it as creating a workplace where everyone feels valued, respected, and supported, where their voices are heard and their contributions celebrated.

This means encouraging open and honest communication between employees and management, creating a space where ideas can be shared and feedback is welcomed. It means recognising and rewarding hard work, not just with a pat on the back, but with genuine appreciation and opportunities for growth.

Ultimately, it’s about building a positive and inclusive environment where everyone feels comfortable and motivated to do their best work. When your employees feel like they’re part of something bigger than themselves, when they see a clear path for development and progression, that’s when true loyalty takes root. And that’s how you build a team that’s in it for the long haul.

The Importance of Recognition and Appreciation.

Recognising and appreciating employees’ contributions is key for retention. A simple “thank you” or a public acknowledgment of achievements can go a long way in making employees feel valued. Consider implementing employee recognition programs or offering small rewards to show your appreciation.

Keeping your best people engaged and fulfilled requires a multi-faceted approach that goes beyond the initial offer. Sure, competitive compensation is vital, and regularly reviewing salaries and benefits ensures you’re keeping pace with industry standards and showing your team you value their contributions.

But it’s also about having a culture of continuous improvement. Provide regular performance feedback, not just as a critique, but as a supportive tool to help your employees grow and develop. Remember that work-life balance is another must-have, so promote flexible working arrangements and generous time-off policies to prevent burnout and show you respect their time outside of work. And most importantly, invest in their growth – provide opportunities for development, training, and career progression to nurture their ambitions and keep them reaching for the next step with you.

End your search with Zachary Daniels

Attracting and retaining top talent requires a holistic approach. While a competitive salary is essential, it’s no longer enough on its own.

Retailers need to create a competitive benefits package that addresses the needs and priorities of today’s workforce, such as flexibility, a great company culture, work-life balance and opportunities for progression.

We understand the challenges of hiring in retail. As a leading retail recruitment agency, we specialise in connecting talented individuals with exciting opportunities in the retail sector.

Whether you’re hiring for store manager jobs or need help with retail senior appointment recruitment, our expert team can help you find the perfect candidates for your business. Talk to us today.