Misco publishes first retail sector Salaries & Benefits report

“Recent legislative changes that led to an increase of opening hours has increased the demand on employees working in the retail sector to the extent that companies are registering high staff turnover. Recruiting and retaining staff in the retail sector, especially sales assistants, merchandisers and cashiers are currently two of the major challenges faced by the local retail sector.”

This was stated by Ritienne Xerri, director at Misco who compiled Misco’s very first Salaries & Benefits Report for the Retail Sector, a report that covers 38 jobs in the Retail Sector across a number of industries namely the FMCG, clothing and catering sectors.

This report analyses in detail the salary structures, the benefits and also the performance related pay which are used in this sector.

The report also studies roles which are associated with the sector in the field of logistics, security, house-keeping, senior management and managerial roles.

Ms Xerri explained how throughout this report, Misco is providing retailers with access to up-to-date market information, which provides guidance on the salary packages paid to different levels of staff within the industry and gives organisations an indication of what the market is paying to similar positions.

Referring to those factors that could be leading to the current shortage in retail employees, Ms Xerri mentioned that, due to the nature of the job, the long work- ing hours coupled by fewer options for flexible working arrangements are the main factors leading to this shortage.

“It is of Misco’s opinion that having a compensation policy with a proactive approach to salary structures, investing in the personal development of staff, considering job sharing options and offering flexible work arrangements to cover longer opening hours could help retail operators. Boosting the profile of sales assistants in general is also important because this helps employees look at retail as a career and not as a casual job.”

“An inclination does exist in the sector to train people who choose a career in retail but most employers limit their staff training to customer care skills when in actual fact, there is a vast range of other interpersonal skills which employers should invest in,” added Ms Xerri.

Misco director Lawrence Zam- mit said that “it’s a known fact that in such a challenging marketplace, effective and competitive remuneration is a key priority to attract and retain your best elements. Aware of the challenges and changes in the retail sector, Misco has researched thoroughly the variety of jobs and sectors, which make up retail in Malta”.

He added that this report, which complements other similar reports for other sectors, pro- vides useful information for those in managerial and key decisionmaking roles in this field.

Other findings

• 60% of companies offer sales assistants commission as part of their salary • 40% of companies offer group health insurance schemes to their employees • 56% of companies offer group performance-related pay to their cashiers