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Thursday, January 26, 2023

Do retailers need a different retention strategy for older workers? | Retail Wire

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According to a recent McKinsey survey of retail workers in the United States, a lack of supporting colleagues was the primary cause of attrition for those 45 and older, while it ranked eighth for those under 35. 

The retail workforce is predominantly young. According to the career advising website Zippia, the average age of a retail cashier is 33 years old. The greatest opportunity for retailers may be related to changes in retirement age. As life expectancy rises, many Americans in their sixties and seventies continue to work. Aging boomers frequently labor to maintain their mental sharpness and purpose, and recent inflationary pressures are thought to be prompting some to postpone retirement. 

Source: https://retailwire.com/discussion/do-retailers-need-a-different-retention-strategy-for-older-workers/ 

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