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Nearly half of retailers report difficulty recruiting seasonal workers: Korn Ferry

October 07, 2020

A survey by Korn Ferry (NYSE: KFY) found 47% of retailers are having difficulty attracting employees for the upcoming holiday season. And 29% are offering incentives to new hires such as bonuses, premium pay and increased employee discounts.

“The need for talent varies greatly from retailer to retailer, with specialty stores such as clothing boutiques finding it difficult to compete against big box retailers that pay better,” said Korn Ferry retail expert Craig Rowley. “The effects of last spring’s shutdown due to the pandemic are still impacting many retailers, as they laid off employees who didn’t come back when stores re-opened. Hiring managers will need to be creative to attract seasonal workers.”

Korn Ferry’s survey also found 72% of retailers considered “essential” and allowed to remain open at the start of the pandemic expect an increase in sales this holiday season.

“Non-essential” retailers were not as optimistic; 44% expect business to decrease from the prior year. Non-essential businesses included specialty clothing and home décor shops.

The survey included more than 50 retailers with annual revenue of between $50 million and more than $20 billion.