Partner Article

Retail Industry Remains Loyal

A recent survey has shown that the retail industry has one of the lowest labour turnovers of any sector last year.

Employees seem to have retained a sense of loyalty to their companies, despite the increasing demands on time and pressure to deliver more in the same time frame.

The 2011 National Management Salary Survey, which is published by the Chartered Management Institute showed only 6.8% of employees retiring or being made redundant in retail.

It seems that UK employees are more than satisfied to stay in their current jobs, possibly due to the instability of the market due to the recession.

The average wage for a retail executive is £33,912, which is £2,500 lower than the national average, and also lower than the average public sector pay package. Typical retail levels of pay are growing at a faster rate though.

Workers seem content with roles that offer pension contributions, annual leave and the opportunity to train and develop more skills.

Pay has not kept in line with loyalty though, with the average salary across all sectors increasing by 2.2%, down from 2.5% in 2010, 4.9% in 2009 and 5% in 2008 according to the survey.

This was posted in Bdaily's Members' News section by Paul Downey .