The news: The tight labor market is forcing retailers to boost pay and benefits as they seek to retain both corporate workers and store employees.
The corporate end: The Great Resignation has driven workers at all rungs of the retail ladder to rethink their work.
The service-sector end: Retailers are increasing pay and benefits for store workers, as well as those who work in fulfillment and transportation.
A broader context: The Great Resignation is making it difficult to hire and retain workers.
The takeaway: The tight labor market is empowering workers. In addition to the fierce competition for top technology talent, retailers also have to pay heed to the consumer-facing workers who are the public face of their organizations. If they fail to find ways to keep their employees satisfied, they’ll likely lose staff, causing their customer experience to suffer.
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