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BK Blog Post
Posted by Crystal Kadakia, HR Consultant, Owner, Invati Consulting.
The retail industry employs around 14.4 million people in the US and retail consumption represents ~66% of GDP. Millennials, with a 35% underemployment rate, find themselves often in sales roles, in retail as well as other customer-facing, repetitive work roles such as call center work. But are Millennials engaged in these jobs? The retail industry has the highest rate of employee turnover of all industries at ~30%. While this has always been a high turnover industry, Millennials bring a new set of challenges. Consider some of the top factors Millennials are most often looking for in a workplace and career: Meaningful, impactful work: Millennials are excited by organizations with deep values, connected to more than just profit, and work plans that clearly show contribution towards organization goals. The retail sector has always struggled with providing a sense of purpose beyond corporate profitability. Workplace Flexibility: Millennials are used to working anywhere, anytime. They are results-focused vs. process-focused and may want to use their own approach vs. a company approach. They are also used to immediate recognition. This may play in the favor of sales careers, where commission based jobs provide strong incentive. Innovation and Technology Usage: Millennials have less understanding […]