The retail industry faces a lot of unique challenges when it comes to hiring. The industry is known to struggle with high turnover, seasonal hiring during peak seasons, low barrier of entry resulting in a lengthier screening process, need of a diverse workforce, hiring remotely for multiple locations, and more.
On top of that, the requirement and expectations from any retail role is far more complex than any other. A salesperson in retail has to not only be great at sales, but also have an attractive/smart personality to qualify as the face of your brand in front of your customers. For this, recruiters have to make fitting hiring strategies and decisions in a short period of time and involve a large number of candidates. With the majority of applications being below average in the industry, achieving this becomes tougher than it seems.
Because retail recruitment is so unique, so are its challenges. Having these challenges can easily shoot up your time to hire. And what we seldom realize is that with increased time to hire, the cost of hiring shoots up parallelly. Retail brands, like other major industries, also face the challenge of high costs of hiring lag in not just one, but multiple ways. Delayed hiring costs retail organizations millions of dollars each year.
Here are 8 different costs of hiring lag in a Retail organization’s hiring process:
Now that you know how a long and delayed hiring process can cost your business, you can focus on taking measures to make your process much faster and efficient. Read It's Time To Reinvent Retail & Hospitality Hiring as a next step to learn how you can use technology to transform your hiring process and turn your challenges into your advantages.