Retail outlook positive, say Teamworx

22 July 2010

 

The outlook is positive for Irish retailers according to a survey of top retailers released today by Teamworx, a leading retail recruitment firm.  Over half of those surveyed stated that the level of business over the last 3 months had increased while an impressive three quarters thought that business will continue to increase over the next 3 months.

While the recession may not be over just yet the respondents to the survey were certainly hopeful with just under 65% viewing the current business climate as ‘average’, while a more promising 18% viewed it as ‘good’.

This healthy rise in business activity has also translated into new employment for the retail sector as two thirds of respondents have hired new staff over the last 3 months and over 70% expect to do the same over the next 3 months.  Reassuringly a very high proportion (81%) does not expect to make any redundancies during that period.

It appears to be a win-win situation for the retailers surveyed as over 80% noted that the talent pool of potential new recruits has improved due to the economic downturn.

“It was inevitable due to the downturn that the standard of talent in the marketplace would improve.  This is the first time in over 10 years that there are significantly more candidates than jobs available. People are no longer job hopping but are considering their long term and career progression opportunities before making a move,” says Denise Brady of Teamworx.

Denise Brady concludes: “Although significant challenges remain within the retail sector in Ireland, signs of green shoots and recruitment bans being lifted are now at the forefront of many retailers’ plans for 2010/2011. The positive is that we are moving into a time where retailers are opening new stores that require talented and experienced Managers and it is likely that the retail industry will return to a position of like for like growth by the end of 2010.

“Retailers, even efficient ones, can spend a large proportion of their time and their budget trawling the market for talent.  Using an agency such as Teamworx will lead to a reduction in costs, the acquisition time line and ensures the skill level of the right candidate,” she said.