Alarming Study Reveals Retail Industry’s Pay Inequality

  • 78% of retail workers haven’t had a formal pay review meeting in the past year
  • Only 15% received a pay rise over the last 12 months
  • 46% of workers felt their employers avoided discussing pay
  • 58.5% find discussing pay with employer awkward
  • 78% of those who had a review meeting got a pay rise
  • CEO of CV-Library urges employees to discuss pay with employers

A recent study by CV-Library found that 78% of retail workers haven’t had a formal pay review meeting in the past year, with only 15% receiving a pay rise over the last 12 months. The research also showed that 46% felt their employers avoided discussing pay altogether. Over half (58.5%) find it awkward to talk about salary with their employer. However, among those who had a review meeting, 78% received a pay increase. Lee Biggins, CEO and founder of CV-Library, commented on the issue, stating that feeling underpaid can be demotivating and urged employees to discuss their wages with employers if they believe they deserve a raise.

Factuality Level: 8
Factuality Justification: The article provides relevant information about the lack of formal pay reviews in the retail industry and its impact on employees, cites a source (CV-Library’s research), includes expert opinion from the CEO of the company, and offers advice for workers who feel underpaid. However, it could benefit from more context or data on the overall state of the retail industry and potential reasons behind this trend.
Noise Level: 3
Noise Justification: The article provides relevant information about retail workers not receiving formal pay reviews and the impact on their motivation. It includes a quote from an expert in the field offering advice for those who feel underpaid. However, it could benefit from more data or examples to support the claims and explore potential solutions beyond discussing the issue with employers.
Financial Relevance: Yes
Financial Markets Impacted: Retail industry
Financial Rating Justification: This article discusses the lack of formal pay reviews and pay rises in the retail sector, which can impact employee motivation and potentially affect the overall financial situation of workers. It also mentions the need for retail outlets to keep up with inflation and offer pay rises to retain motivated staff.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.retailsector.co.uk