Employee wellbeing risk soars for retail workers in Q1
This has raised the flight risk of retail employees by 2.1% to 32% in the first quarter, which means that nearly a third of employees working in the sector are at risk of leaving
Employee experience platform WorkL has revealed that the average Wellbeing Risk score for employees working in retail has increased significantly to 38% in the first quarter of 2023, up from 36% at the end of 2022.
Results contrast to an average global decrease in wellbeing risk over the first quarter to 33%, down from 34%, meaning that retailers must focus on their employees’ wellbeing over the coming months to get it in line with the global average.
News from the Q1 2023 Retail Insight Report by WorkL, which includes data from over 3,000 UK retail employees within the first quarter of 2023, shows that reward and recognition, job satisfaction and instilling pride have decreased in Q1 compared to 2022, resulting in an overall decrease in retail’s engagement score of 0.5% to 67%. The global average is currently 71%.
This has raised the flight risk of retail employees by 2.1% to 32% in the first quarter, which means that nearly a third of employees working in the sector are at risk of leaving their current role in the next nine months. This figure bucks the average global flight risk trend, which has seen a decrease of 0.2% in Q1.
Mark Price, founder of WorkL, said: “My advice to managers within the retail sector for the next six months is to make use of industry data to benchmark and compare where and what needs improving in employee engagement.
“As well as this, to capture information about employees who leave, exit surveys give valuable advice to businesses on how they can reduce flight risk, so get this set up and you’ll be in better shape by the end of the year.”