Maximize Your Reduced WorkforceSource: Axsium Group
This white paper from Axsium discusses the recent unprecedented economic turmoil and the signs of recovery that some retailers are seeing. It focuses on how retailers can meet demand with the diminished workforce that has been required to continue operating during the recession. Holiday sales have increased over recent years and that trend is expected to continue and while some retailers are not feeling the effects of the recovery yet, there is no doubt that it will come.
The recession had a predictable impact on the retail workforce with falling sales causing workers to be laid off. Store closings had some impact on this, but even stores that remained open still had to reduce their current staff. This paper notes that retailers were using the fewest hours since 1993 during the recession.
The retail environment has changed significantly over the past few years. Technological advances, customer expectations, new sales channels, inventory management systems, promotional strategies, and the competitive dynamic have all evolved significantly. Retailers have had to rethink their strategies, and industry experts have noted that a focus on innovation will be one of the best ways to control costs and improve customer experience. The focus of this innovation must be on controlling the workforce, the retail industry’s largest expense.
Download this white paper from Axsium below to read more.