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"Crucial Factors which affect retail workforce: currently and in 5 years" Market Report

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Posted by Thuy Duong Phan

11 months ago

 

The survey conducted by Navigos Group showed us more clearly the portrait of retail candidates, with their own characteristics and skills, which not all candidates in other industries would have. Therefore, despire the competitiveness in the job market, retail industry is still a place where talented people can prove their "level", not only to Vietnamese candidates but also to expart candidates. 

Retail is still an attractive sector in the recruitment market

Retail sector has specific requirements, the workforce in this sector has its own "un-mixed potential" as well. Being evaluated to have high adaptability; employees in this industry have to face to constant changing resulted from consumer's behaviours. However, not all candidates are excited to the activeness in this industry. 15% of respondents said they often experience stress at work; 19% respondents said they are unable to achieve work-life balance; 19% of respondents complained they are unsatisfied with working on weekends. 

Industrial 4.0 will impact on Retail workforce in the next 5 years

Whether industry 4.0 affects lightly or strongly on retail workforce, they will be proactive in self-improvement to adapt to new requirements, 63% of repsondents choose self-improvement, 28% of respondents require to be trained to adapt to new working conditions.

The biggest challenge for employers in Retail industry: high turnover rate

28% of employers said that candidates' lack of commitment and high turnover rate are the biggest challenges for recruiters. 29% of employers said that their biggest difficulty in recruitment of this industry is the high turnover rate. This is fairly consistent with the rate of nearly 60% of candidates who said that they change their jobs on average after 2-3 years.

49% of employers said that another challenge for them in recruitment is that candidates would change their minds when being offered by competitors.

The most recent reason for candidates to change their jobs

29% of candidates are not suitable with the management style of the line managers. 22% said that salary and bonus are not as much as they expect. Moreover, 16% of candidates dont get promoted or it takes long time to be promoted, which results in their leaving. 

Candidates who have experience in e-commerce will get higher salary from 10%-30%

Employers are willing to offer a higher salary to the candidates who have experience in e-commerce. However, regarding to the statistics of survey, more than half of respondents are inexperienced in e-commerce. From the recruitment's perspective, once the retail sector is forced to catch up with the digital trend, these employees could be "suffered" from work.

Expats candidates will be the most competitive candidates in retail sector

46% of respondents said their current jobs have been facing competitiveness from expat candidates. Based on their evaluation, the most excellent candidates in Retail sector could be from Europe; Northeast Asia (Japan, Korea) and Southeast Asia (Thailand; Singapore; Philippines; Malaysia; etc.) with the rate of 33%, 26% and 22% respectively.

Social media is the best channel for building “Employer Branding”

Social media has been proving its massive impacts to the community, even in recruitment industry. Many employers who participated in the survey said, social media is the best channel for building “Employer Branding”. Via social media, the employer’s image such as corporate culture, allowance and benefits.

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(Source: Navigos Group published Retail Report  in Jan 2018)