Retail Salary Survey 2025
Retail Salary Survey 2025 - Participate and have your say in your industry
In the fast-paced retail industry, attracting and retaining top talent is essential to success. But over the past two years, significant shifts in salary expectations and compensation packages have made it more challenging for businesses to stay ahead. With rising costs, increased demand for flexibility, and changing priorities like mental health and work-life balance, companies are under pressure to adapt. One of the best ways to navigate these changes is by participating in salary surveys.
Salary surveys provide invaluable insights into where your compensation strategies stand compared to the broader market. By participating, you're not only contributing to an industry-wide conversation, but you're also gaining access to data that helps ensure your company remains competitive and aligned with current trends. Here’s why this matters, and how it can help shape your business’s future in the retail sector.
1. Get a clear benchmark against industry standards
One of the biggest benefits of participating in salary surveys is the ability to see how your company’s pay scales stack up against the rest of the market. Without this information, it's easy to fall behind in offering competitive wages, especially in an industry like retail, where salary is often a deciding factor for candidates.
By contributing your data to a salary survey, you gain access to comprehensive information on salary ranges and benefits across the industry. This allows you to pinpoint where your compensation package fits within the market .. are you ahead of the curve, or do you need to make adjustments to stay competitive? Having this data helps you make informed decisions about salaries, benefits, and perks, ensuring that you're not only attracting top talent but also retaining the key employees you already have.
2. Understand broader workforce trends
Salary surveys provide more than just numbers .. they offer a snapshot of what’s happening across the industry. Over the past two years, we've seen significant changes in the retail workforce, from rising wages due to inflation to a growing emphasis on work-life balance and mental health support.
By participating in salary surveys, you gain access to this broader context, helping you understand what’s driving employee decisions. For example, our recent data shows that while remuneration is the top reason candidates resign, work-life balance is quickly catching up as a key priority. Understanding these motivators can help you tailor your recruitment and retention strategies, ensuring you’re offering not only competitive pay but also benefits that align with employee needs.
3. Access insights that inform strategic decisions
When you participate in a salary survey, the data you receive back provides actionable insights that can influence your business’s long-term strategy. For instance, our recent findings revealed that 61% of people open to relocation prefer to stay within their current state. Knowing this information allows you to focus your recruitment efforts locally or offer region-specific perks, helping you streamline your hiring process and attract the right candidates.
Additionally, our surveys have shown that while 47% of employees feel their employers care about mental health, 30% believe their employers don’t. These insights can inform your leadership training and employee engagement initiatives, helping you create a supportive environment that boosts retention and satisfaction.
4. Shape the industry’s future and improve your own standing
Participating in salary surveys isn't just about receiving valuable data—it’s about contributing to the collective knowledge of the retail industry. The more businesses that take part, the more accurate and reliable the data becomes, creating a clearer picture of compensation trends, employee needs, and market challenges.
By sharing your business’s salary information, you help shape the future standards of the retail workforce. In turn, this helps you see where your own business fits within the broader landscape and ensures that you remain aligned with industry trends. Over the next 12 months, this collective effort will allow businesses to offer more competitive, attractive compensation packages, leading to better retention and a stronger talent pool for the entire sector.
With wage pressures, rising costs, and evolving employee expectations, the retail industry is at a pivotal moment. By participating in salary surveys, you can ensure that your business is equipped with the data needed to stay competitive and make informed decisions. More importantly, this data allows you to benchmark your salary offerings against the market, ensuring that you’re not falling behind and that your compensation packages are aligned with industry standards.
The insights you gain from these surveys not only benefit your own business but also help shape the future of the retail industry as a whole. So, if you’re looking to attract the best talent and stay ahead of the competition, participating in salary surveys is a step you can’t afford to miss. Contact one of our team members today to discuss how you can contribute to the conversation.