Retail salaries on the rise
Published on Sun, 08/07/2012, 08:49:24
Retailworld Resourcing’s 2012 Retail Salary Survey shows an overall increase in salary brackets across the retail market, however, retailers are coming up with new strategies to enhance their employment brand and create packages to entice top talent.
Taken from 2,943 data points, the Retailworld Resourcing salary survey has given insight into the retail labour market.
An average of a five per cent increase in salaries has been seen nationally since 2011, with the main surge seen in store management positions in the luxury and large format sectors.
Middle management support office roles have taken the biggest hit with the largest number of redundancies due to restructuring.
On a state-by-state basis WA and QLD have seen the biggest salary growth, mainly due to the mining boom injecting cash into the local market and strong demand for the best talent.
Retailworld CEO John Caldwell says that as retail sales in most sectors remain steady, salary increases have remained fairly conservative, which is in line with expectations.
“However, retailers are becoming more savvy with their total remuneration offer – offering more attractive rostering options, product discounts and performance based incentives and a focus on career development and offering employees more responsibilities in their roles.
“With the war for talent, we’re also seeing an increase in counter-offers as employers attempt to retain high performers.”
Although retailers are continuing to be knocked about with expenses, the increase in salaries despite the state of the economy is a positive sign for the industry as retail develops it’s perception as a career of choice, says Caldwell.