Retail employees enjoyed a pay rise of 5.5% during 2006, compared with an average increase across all industries of 5.3% and just 2.6% in the transport and logistics sector. The biggest rise was enjoyed by HR professionals (5.9%).
Average total earnings for managers in the retail sector were £46,026, compared with £47,449 across the whole of the UK.
The figure places managers in the sector as the seventh highest industry earners, with managers in the pharmaceutical sector coming top (£50,525).
In regional terms, the top earning managers are London-based (£54,808) and the lowest paid managers in Northern Ireland (£38,399).
Bonuses played less of a role in overall take-home pay.
Across the retail sector, 53.2% of executives were awarded bonuses, compared with 53.9% the previous year. The average bonus payment for employees across the sector was £5,868.
The survey also reveals that 81% of employers are reporting recruitment problems – a fourfold increase since 2002. Nearly one-third (32.6%) now offer “golden hellos”, against just 16.3% in 2006.
Resignations in the retail sector have increased, now standing at 11% compared with 5.4%, last year.
Retail is suffering the highest proportion of resignations ahead of industries including insurance (8.2%) and the food and drink sector (3.8%).
