Retail Sector Faces Challenges in Employee Engagement
- Employee wellbeing risk increases for retail workers in Q1
- Wellbeing Risk score rises to 38% from 36% at the end of 2022
- Retail engagement score drops by 0.5% to 67% globally
- Flight risk for retail employees up by 2.1% to 32%
- Global flight risk decreases by 0.2% in Q1
- Mark Price advises using exit surveys to improve employee engagement
A recent report by WorkL reveals that retail employees’ wellbeing risk has increased to 38% in Q1 2023, up from 36% at the end of 2022. This is higher than the global average decrease in wellbeing risk (33% to 34%). Retail engagement dropped by 0.5%, with a score of 67%. The flight risk for retail workers has risen by 2.1% to 32%. Managers are advised to use exit surveys to improve employee engagement and reduce turnover.
Factuality Level: 8
Factuality Justification: The article provides relevant information about the increase in wellbeing risk for retail employees based on data from WorkL’s Q1 2023 Retail Insight Report and includes quotes from the founder of the platform. It also presents a comparison with global averages and offers advice to managers in the sector. However, it could benefit from more context about the factors contributing to the increase in wellbeing risk and engagement score.
Noise Level: 3
Noise Justification: The article provides relevant information about the increase in wellbeing risk and flight risk for retail employees based on data from WorkL’s Q1 2023 Retail Insight Report. It also offers advice from the founder of WorkL on how to improve employee engagement. However, it could benefit from more analysis or context on why this is happening and what factors are contributing to these trends.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses an increase in employee wellbeing risk and flight risk in the retail sector, which can impact companies’ financial performance through higher turnover rates and reduced productivity. This may lead to increased costs for businesses and affect their overall profitability.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article. The information provided discusses an increase in employee wellbeing risk and engagement issues within the retail sector, which may have minor to moderate impacts on businesses and employees.
www.retailsector.co.uk