Frontline staff in the luxury retail sector are in high demand in Singapore, with luxury brands recruiting talent from fast-fashion brands or hiring from outside the industry.
While the retail industry is rebounding from a challenging 12 months, fast-fashion and mass-market brands have not been affected as strongly as the luxury sector, with some key players moving ahead with expansion plans this year.
Slowing economic growth, dwindling tourism and evolving consumption patterns have strained the retail industry in Singapore, yet the overall sentiment around luxury and retail is generally positive, says international recruitment company Randstad.
A report from PwC says sales growth in the region will be the fastest globally over the next five years, averaging 8.5 per cent in monetary terms and 4.6 per cent in average volume.
Aware of the importance of growing local clientele, luxury brands in Singapore have been ramping up their offerings to provide tailored and exclusive shopping experiences. This change of focus has sparked a demand for a new generation of roles that include in-store clientele development specialists, clientele development managers, VIP managers, personal shoppers and boutique directors, says Randstad.
To address the talent shortage, the recruiter says some brands are looking to hire people from outside of the luxury retail industry, particularly those who have strong networks of high-net-worth clients, customer-relationship management (CRM) expertise and high-end customer-service backgrounds.
“Frontline retail staff in the luxury sector continue to be highly sought-after in Singapore,” says Randstad. “Because of a shortage of good candidates in this space, some luxury brands have begun hiring talent from mass-market and fast-fashion brands, and are particularly interested in candidates who not only have a passion for the luxury industry, but also bring new and unconventional ideas to the table.”
Across both frontline and backend operational roles employees can expect salary increments ranging from 1 to 5 per cent this year. Candidates in regional roles or in areas where there is a talent gap will be able to command pay increases of around 18 per cent when moving to a new employer.
Randstad says attracting and retaining the best talent is increasingly becoming a key focus for the luxury and retail industry.
“More often than not, companies tend to associate consumer branding with employer branding, thinking that the consumer brand will attract and retain the best talent,” says Randstad Singapore luxury and retail specialist consultant Alston Tan. “As consumer and employer branding do not always equate, luxury and retail companies have to focus on their employer branding.”
As an example, with the growing importance of work-life balance, some companies have been focusing on offering their staff increased flexibility with work hours.
Career progression is also an important factor employees are taking into consideration. “Some brands are strongly committed to promoting people from within their organisations, even if it means rotating them across different jobs,” says Tan. “Others give frontline retail staff the chance to move into backend operational roles, provided opportunities are available.”
Salary structures are also being revised as brands put more effort into staying competitive and attract top talent.
Randstad is one of the world’s largest recruitment and HR services providers, with offices also in Australia, China, Hong Kong and Malaysia.
