Are Fashion's Employees Growing Dissatisfied?
24 Seven's Survey Finds A Deteriorating View Of The Job Market Among Fashion Industry Workforce
In the 2013 Salary and Job Market Report conducted by 24 Seven, the New York-based talent recruitment firm, of the over 1300 fashion and retail professionals surveyed only 48% say they are satisfied with their current position. After compensation, work/life balance, opportunity for advancement, and company culture top the list of greatest impactors on job satisfaction.
Job loyalty remains extremely low with 86% of employees indicating that they're open to making a career move in the next year. Career worries top the list of issues that keep professionals up at night, with lack of clear career direction as the biggest concern. The lack of management support and staying professionally relevant follows closely behind.
Celest Gudas, president of 24 Seven, noted that the digital talent is transforming their business in much the way it is transforming retail, with about half of its talent now in the digital/e-commerce space. Finding and retaining digital talent has been a challenge for many in the retail and fashion industries and a big reason that one in four vacancies have remained open for five years or more, she told WWD.
"It's a very disruptive time in the industry, and the competition for digital talent isn't just between retailers and fashion companies," Gudas said. "It's with Silicon Valley, Silicon Alley, pockets in other cities, Google and eBay, just to name a few. It's not just that the competition is fierce, but in today's market, everything is transparent. Fashion and retail companies really need to get a hold of talent management."