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AI for Recruiting: News, Tips, and Trends

3 Strategies For Improving Quality Of Hire For Retail

Annual turnover rates in retail range from 50% to over 100% for some retailers.

With the average cost to replace an entry-level retail employee calculated to be $3,328, turnover gets expensive quickly. As an example, if Walmart replaced 50% of their 500,000 entry-level employees in an year, it would cost them approximately $850,000,000!

It makes sense then that quality of hire for retail generally focuses on turnover. The responsibility for increasing quality of hire by decreasing turnover usually falls on the recruiting department.

Here are 3 tips for improving quality of hiring for retail.

Strategy 1: Offer a competitive salary and incentives

A survey of retail employees by Korn Ferry found the #1 reason for leaving a job was “better opportunities / promotions” followed by more money. Continue reading

Retail Hiring Is On The Rise: 3 Tools That Can Help

Retail is making headlines again: While Toys R Us filed for bankruptcy recently, Target announced plans to hire 100,000 holiday workers, up 40% from last year.

As one of the first retailers to announce their hiring plans for the 2017 holiday season, Target’s hiring plans hint that retail sales are expected to grow this year.

It’s not just Target that’s increasing their hiring, Indeed reports a 34% increase in seasonal job postings compared to last year from retailers such as Amazon, Best Buy, and Macy’s.

Watch our 2-minute video on 3 innovative tools to help your retail recruiting:

 

According to industry experts, the rise in hiring in-store associates is being driven by the desire to improve the brick-and-mortar shopping experience. Continue reading