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Visa consumer spending - impact on talent and recruitment, CoreHR comment

Dean Forbes, CEO, CoreHR, provides his thoughts on how this impacts talent within retail and where retailers should be placing their attention in regards to their recruitment and talent strategies to suit.

With consumer spending falling, retailers have a fight on their hands to protect their businesses amidst these difficult trading conditions. Customers are now less willing to part with their hard-earned cash, so it is vital that retailers deliver on expectations. That means good stock control, good interactions with staff, and well laid out stores – in both the physical and online worlds.

As online sales continue to gain at the expense of the high street, HR teams also face contrasting priorities to scale back the workforce instore whilst ramping up recruitment for roles that support the online experience. This also means that the type of talent retailers are looking for is changing. Nowadays they are on the hunt for great web developers and engineers that can help digitise warehouses. That means HR must prioritise putting the right talent management and recruitment strategies in place to support the organisation’s long-term business goals. Of course, the responsibility to attract and retain great employees doesn’t lie solely with the HR team. The wider business must be encouraged and supported to look into their own networks to fill any talent gaps that might be widening or emerging.

Shoppers will always need more options than online-only, so retailers also need to experiment to find the right choices for their customers. Investing in data-driven scheduling technologies will help management understand the bigger picture. That way, staff can be moved between warehouses and shop floors as demand fluctuates.

Done right, this technology overhaul can reap benefits for retail workers, customers and management – with retailers able to improve the bottom line, customer service and the working environment. There’s also the potential to offer new benefits to staff, with the possibility of improved flexibility and ownership over working hours.