What does 2023 have in store for the retail industry? Talent shortages, cost of living, and more technology
What does 2023 have in store for the retail industry? Talent shortages, cost of living, and more technology
Years of difficulty and uncertainty in the retail industry have resulted in over half (53%) of retail employees currently feeling overworked and underappreciated, suggests new data from workforce management technology company Fourth.
Post-pandemic, many retailers were hopeful for sustained growth and recovery. Instead, they face rising inflation, and a cost-of-living crisis, and have seen the day-to-day cost of running a brick-and-mortar store peak.
KFC is a global Quick Service Restaurant (QSR) brand known for its finger-lickin’ good fried chicken. One of the secrets behind KFC’s success, is its focus on implementing reliable demand forecasting and inventory management processes, which have not always been an easy task.
The hospitality industry has continued to battle its way through a myriad of issues since we released our last Hospitality Workforce Report in August, with spiralling energy costs, high inflation and market instability heavily impacting trading.
The current economic climate has continued to challenge hospitality operators since we shared our last Hospitality Workforce Report in August, with spiralling energy and food costs, supply chain disruption and labour shortages threatening to impact profits.
Fast-rising hospitality leaver rate piles pressure on recruitment and retention
Fast-rising hospitality leaver rate piles pressure on recruitment and retention
More staff are leaving jobs in hospitality now than at any time since the start of the pandemic.
The latest data from Fourth, the industry’s leading provider of inventory and workforce management solutions, shows that 8.3% of the workforce left the sector between August and September.
Overlooking modern HR tech can negatively impact retailers
Overlooking modern HR tech can negatively impact retailers
As high street footfall continues to drop, retailers are feeling the strain. To address the cost of living and high staff turnover issues, retail leaders can use HR technologies to balance their employee’s engagement, satisfaction, and financial well-being.
63% of retail leaders plan to hire more staff with festive season nearly upon us
63% of retail leaders plan to hire more staff with festive season nearly upon us
63% of retail leaders expect to hire more staff in the remainder of 2022 with the Christmas trading period fast approaching. This is according to market research conducted by the leading retail and hospitality technology company Fourth.
Cost-of-living Support: Whose Problem Is It Anyway?
Cost-of-living Support: Whose Problem Is It Anyway?
At a time when financial wellbeing support is needed most, new research by our partner Wagestream has found that employees are struggling to make the connection that their employer is often best placed to support them.
A third of retail employees are concerned about fewer customers as consumer confidence dips
A third of retail employees are concerned about fewer customers as consumer confidence dips
A third (33%) of retail employees expect to see fewer customers amid consumer confidence dips during the cost of living crisis according to market research by the leading retail and hospitality technology company, Fourth.