Thursday, April 25, 2024

Positive hiring predictions for retail as international competition grows

There is a healthy level of hiring activity within the retail industry as consumer confidence remains steady and domestic growth and positive trading conditions continue.

According to the ‘2015/16 Michael Page Australia Salary and Employment Outlook’, these factors, coupled with a number of international retailers entering the Australian market, have led a growing job market.

More than half of retail companies surveyed are planning to increase headcount over the next 12 months. This positive sentiment is coupled with economic confidence as 53 per cent of retail companies rate the current national economy as ‘fair’ and 35 per cent rate it as ‘good’.

“Hiring activity for retail professionals is currently strong, particularly in NSW, and healthy demand is expected to continue over the next 12 months,” Michael Page Australia Regional Director of Sales, Marketing, Retail and Digital Richard Wynn said.

“Stronger economic conditions mean consumer spending is being encouraged and new international competitors coming into the market are causing a churn.”

There is also optimistic industry confidence, as 47 per cent of retail employers rate their overall confidence within the industry as ‘fair’ and 24 per cent rate it as ‘good’. International expansion has meant the executive job market has become stronger and this trend should remain consistent over the next 12 months.

“We have seen a continuation of international retailers coming to Australia and, overall, this will be the trend to watch out for,” Mr Wynn said. “We expect to see even more high-profile names enter the market and this will have a direct impact on hiring, so we feel confident about the retail job market for the next 12 months.”

Salaries have increased in line with CPI and many businesses are tightening up on remuneration packages – bonuses are increasingly based on business performance.

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