Luxury Brands Face A Retail Labor Crisis As 51% Of Employees Plan To Leave Their Jobs [Forbes]
Korn Ferry (KFY)
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Source: Forbes
getty Everyone in luxury recognizes that the retail store must be more than a place to buy products; it must be an immersive brand experience. The front-line retail brand employees are the ones who can make or break the customer experience. However, a global survey among 12,000 retail employees working for 12 luxury brands found widespread luxury retail employee dissatisfaction. A staggering 51% plan to leave their current employer in search of opportunities where they have greater agency, feel more highly valued and have improved work-life balance, according to consultancy CXG Ultimately, the luxury customer experience (CX) is inextricably tied to the employee experience (EX). A dissatisfied employee inevitably leads to a dissatisfied customer. The CXG research suggests luxury brands are failing at the one and they'd better fix it before it starts showing up at the customer experience level, or perhaps it already has, since Bain reports the luxury goods market contracted 2%
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KFY
Earnings
- 12/5/24 - In-Line
KFY
Sec Filings
- 12/18/24 - Form 4
- 12/11/24 - Form 144
- 12/9/24 - Form S-8
- KFY's page on the SEC website