Higher salaries, job mobility, and a strong emphasis on "quality of life" benefits are redefining the job market in retail and fashion, according to 24 Seven's Fifth Annual Salary Survey.
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Get Your Report Now!The survey, conducted by 24 Seven, a talent recruitment agency collaboration with American Apparel & Footwear Association (AAFA), queried more than 2,000 professionals across the U.S in a variety of retail and fashion related fields.
Key findings unveiled in the survey include:
- Nearly 70 percent of respondents plan to make a career move in the next year, with almost 50% of all respondents already looking for a new job.
- Base salaries for respondents who moved into a new job within the last 12 months are up almost 20 percent. For employees who have held their current positions between one and five years, salaries have risen 9 percent. Across the entire survey sample, salary increases during this period have occurred in all job categories.
- Fashion and retail professionals are optimistic about the job market. Around 60 percent of survey respondents believe their salary will increase in the coming year, and nearly 45 percent expect their bonuses to rise in 2011.
- Flex-time and ability to telecommute represent new non-traditional benefits that are driving employment satisfaction. The top three reasons for considering a job change are higher base salary, better growth potential and improved quality of life, according to respondents. But, the top factor that can positively impact job satisfaction is work/life balance. Beyond medical insurance, non-traditional benefits such as more flexible work schedules and telecommuting options are highly valued by respondents.
"The recession has re-shaped job expectations, and we're now seeing star talent on all levels leaving to create their own opportunities, redefine their career paths and increase their on-the-job satisfaction level. Companies need to become more attuned to the desires of employees in order to attract and retain talent and remain competitive in this post-recession environment," said Celeste Gudas, President and Founder of 24 Seven, Inc.
The survey is available on www.seventalent.com. (Registration required.)