The retail industry has already been through a challenging time well before the pandemic disrupted our lives. With the closing of physical storefronts due to Covid-19 health protocols, retailers have had to become more agile by leaning on e-commerce and other omnichannel retail strategies. However, despite the disruption, Kiwi consumers appear to have adapted well to the changes, proven by the steady rise in quarterly retail sales in New Zealand.
With the holidays and the New Year on the horizon, retailers are bracing for another challenge as they look to meet the consumers’ heightened demand for efficiencies whilst keeping their sales momentum. To top it off, with customer satisfaction and loyalty directly correlated with employee service, retail business operators need to step up their talent management strategies to thrive in the future.
With the “Great Resignation” looming over New Zealand organisations in a tight labour market, what can retailers do to retain and attract their best talent?
More focus on employee engagement
Many retailers have listed employee engagement as one of their top HR priorities, and now more than ever, it is essential to deliver on this priority. Various research has consistently shown that they perform better, have higher productivity, have better health outcomes, and increase an organisation’s profitability.
Retailers looking to improve engagement should look beyond the usual perks and go for a holistic strategy covering the entire employee lifecycle, from recruitment to onboarding, to learning and development and payroll.
Embed flexibility in the workforce
Ceridian’s latest employee survey shows that flexible working arrangements are the top benefits New Zealand employees are looking for in their employers. Remote work has given retailers a bigger talent pool, and with e-commerce and omnichannel retail being the norm, proximity is no longer a requisite to hiring. Retailers can identify and create remote roles while embracing flexibility for the rest of the workforce.
Using an automated, intelligent workforce management system can help retailers plan labour and rostering with employees’ preferences in mind. As a result, store managers can keep track of which employees are working remote against those working on-site, create forecasts and deploy rosters quickly while empowering their employees with the ability to control their own schedules.
Accurate, timely and compliant payroll
Pay is a critical foundation for employee engagement. Paying employees accurately and on time, every time is critical to creating an optimised experience, as well as protecting the employer brand. Conversely, payroll errors contribute to a decline in employee engagement and increased turnover.
With various factors affecting a retail employee’s pay, from job type, time and attendance, and shift schedules, not to mention the varying labour laws across jurisdictions, payroll is complex. However, using a single solution for pay, workforce management, and HR can help retailers manage compliance, ensure data accuracy, and identify efficiencies while paying employees on time.
The future of retail
The retail industry has shown incredible resilience in the past two years with how they have transformed in the face of disruption. As we look to the future, retail workers will continue to expect a better-designed experience that correlates with what customers also expect from their buying experience. Retailers who adapt and meet these needs will be the winners in the new world of work.
Learn more about how Ceridian can help retailers learn, adapt, and evolve to whatever the future holds with Dayforce.
About the author: Stephen Moore is Managing Director, Asia Pacific Japan at Ceridian.
