Retail candidates want 3.9% pay increase
The inaugural ResourceBank Retail Candidate Insight Survey provides a fascinating insight into what salary increase candidates are wanting when applying for jobs within the retail sector in 2015.
Historically, many employers have assumed that they need to offer candidates a significant increase of around 10% in order to attract them into a new role .
However, the ResourceBank Insight Survey completed by nearly 1,500 retail candidates shows an average target salary increase of just 3.9%.
When looked at geographically, candidates based in London are looking for the highest increase from a new role, while candidates in Wales and the North East of England have the lowest target salary increase in their minds. When looked at by sector, candidates aiming for work in the Home/DIY sector have the highest expected salary increase – more than those looking the jobs in the premium fashion sector and with online retails. Unsurprisingly, candidates looking for a new role within the food / grocery sector are aware of the cost pressures in this sector and have the lowest salary increase expectations.
The different role that a candidate is looking for also has a significant impact on the salary increase they are expecting. Candidates working in Marketing are looking for an average salary increase of close to 5%, while in-store sales/customer service staff are looking for less than a 3% increase on average.
These details and more can be seen in the full report which can be viewed and downloaded for free here.
The research was undertaken during July, August and September 2015 with more than 30,000 active candidates within the retail sector asked to complete an on-line survey. Nearly 1,500 surveys were completed, providing a large data set from which to base the research results.