One major impact of the pandemic has been a distinct shift in employees’ expectations and needs. Most people working in board-level and C-suite roles in the retail sector have spent extended periods of time working from home, and this has brought many of them benefits such as the ability to pick up their children from school. The changes have altered people’s feelings about their work-life balance.
In the past, when labor markets were squeezed, offering higher salaries could tempt the best candidates away from your competitors. Now, employees are demanding more than just financial incentives. Many top-quality candidates have noticed that remote working enables them to live further outside of city centers in attractive rural areas and to dedicate time previously spent commuting to family, all while maintaining their career progression.
To attract these candidates, retailers looking to recruit new CFOs, CIOs and other board and director-level executives must show that they can offer opportunities for hybrid and remote working.
It’s not just remote working arrangements that employees increasingly want to see from their employers. Many workers, especially from younger generations, are keen to join companies that show a social conscience, and this is undoubtedly motivating firms to change their policies.
For example, many major retail sector employers – such as H&M and Apple – pulled their Russian operations in a show of solidarity following the country’s recent invasion of Ukraine. Another key priority for candidates is opportunities for progression. Employers who present a clear professional development pathway are more likely to attract top talent.
