Some people consider jobs in the retail sector to be low-paying and lacking in career advancement opportunity, but it seems that oftentimes the opposite is true. Recent research from the National Bureau of Economic Research (NBER) actually found that as retail businesses grow they tend to offer increased pay and better future opportunities than many other industries. Although initial pay in the retail industry may be lower than in manufacturing, employees who remain with a retail business over a long period of time can reap significant rewards.
"The retail sector pays considerably less than manufacturing," concluded the authors of the study, "but as the manufacturing sector has declined over time, the growth of modern retail chains has increased retail wages and provided more promotion opportunities, particularly for the more-able worker."
Hardworking employees can make the climb from being an entry level employee to being a supervisor, and then move on to salaried management positions. A store manager at Wal-Mart, for instance, earns $92,462 per year.
As the retail industry continues to grow, it offers workers a considerably better career trajectory than the manufacturing industry does. On average, the retail industry added over 22,000 new jobs from November 2013 through November 2014, providing even more part-time and seasonal openings in the 2014 holiday season.
This year, make sure your employees are operating the best credit card pos software possible when handling transactions and taking care of inventory data. Giving your store a system with an easy-to-use interface and strong security measures will help you run your business more efficiently and effectively. Offer your employees a quality tool so they can do their jobs better than ever.