The Generator Group, a Portland, Ore.-based, executive search firm, recently surveyed 44 retail and manufacturing executives with specialties in apparel, footwear, action sports, running, cycling, fitness and sporting goods from 39 different companies around the nation to get a sense of what the job market is currently like. The survey included large and small, as well as private and public, companies in the United States ranging from $5 million to over $1 billion in annual revenues.
Of the companies surveyed, a "lack of qualified candidates" was the biggest recruiting challenge articulated by over 50 percent of respondents. Compensation that was not competitive and an unwillingness of job candidates to relocate rounded out the top three challenges to finding qualified candidates.
Unfortunately, 83 percent of those responding to the survey acknowledged having made at least one hiring mistake resulting in having to let an employee go in six months or less. Perhaps worse, 38 percent also admitted to multiple hiring mistakes.
Most interesting were the responses to a question on why employees leave. The top five answers are:
1. Recruited by another company
2. No opportunity for advancement
3. Dissatisfaction with salary / benefits
4. Concerns over direction of company leadership
5. Entrepreneurial spirit
To learn more about the survey, contact the Generator Group at 888-621-9934.
To minimize the chance you might make a future hiring mistake, turn to the SNEWS® Business 101 Training series article, Business 101: Retail management tools for interviewing and hiring by clicking here. Only paid SNEWS® subscribers enjoy the full benefit of this article and others in our valuable ongoing training series.