Retail and Customer Service Compensation Management and Surveys
The labor market has become fiercely competitive, with many retail businesses struggling to staff enough service workers to assist customers in brick and mortar stores as well as the talent needed to support the surge in e-commerce and online shopping. Payscale delivers the salary data and software solutions that helps leading organizations in the retail and customer service industry build modern compensation programs to attract and retain talent.
Top Challenges for the Retail Industry
In the recovering economy, the retail industry is booming and employers are struggling to find qualified applicants for their open positions. Competitive wages and total rewards packages are essential to attract talent in a hot job market.
After a rough few years of difficult working conditions during a pandemic in combination with rising inflation and increases in opportunity, employees are expecting higher than average pay increases to keep pace with the market.
In a hyperactive job market, you have to think about pay equity. Pay for new hires can outpace tenured employees, even managers, which can put you at risk of unmanageable turnover.
With all the challenges in the current job market, it is imperative for employees to understand pay policies and for managers to be trained on compensation.
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Payscale gives you access to current salary data that you can cut any way you like it — even by competitors! — so you can make pay decisions right now.
Retail salary data available from Payscale right now
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Track annual and quarterly wage growth
The Payscale Index is publicly available data that tracks and compares wage growth by city, industry, company size, and job category. The Payscale Index draws from Payscale's Employee Reported data which includes a salary data cut specific to the finance and insurance industry.
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