New research conducted by CV-Library, the UK’s leading independent job board, reveals that over three quarters (78%) of retail workers haven’t had a formal pay review meeting in the past year.
This has resulted in just 15.6% of workers in the industry receiving a pay rise over the last 12 months, despite not being offered an annual pay review.
In addition to this, the study, which surveyed over 1,200 UK professionals, found that three quarters (75%) of workers in the industry believe they’re underpaid. Worse still, nearly half (46.3%) think that their employer actively avoids the topic of pay altogether.
Interestingly, the research exposed that retail is one of the top five industries where professionals haven’t been offered a pay review meeting in the last 12 months:
- Catering (81.3%)
- Social care (79.4%)
- Retail (78%)
- Legal (75%)
- Education (74.1%)
Lee Biggins, CEO and founder of CV-Library, comments: “Feeling like you’re underpaid and aren’t properly financially rewarded for your efforts at work can be demoralising. Pay is a huge motivator, so it is alarming to see so few professionals in retail have been offered a formal pay review meeting in the past year. With the weather beginning to pick up, retail outlets should begin to see an increase in customers, meaning they’ll need more, motivated staff.
“In order to keep on track with inflation, all workers are entitled to a pay rise if they have met their targets and are performing well in the role. If you believe your efforts aren’t being recognised and you deserve an increase in your wage, it’s time to broach the subject with your employer.”
The study also reveals that over half (58.5%) of retail workers find it awkward discussing their pay with their employer. But, of the 22% of industry professionals who were granted a pay review meeting, over two thirds (77.8%) received a pay rise.
Biggins offers his five top tips for asking for a pay rise:
- Schedule in a meeting with your boss with the agenda set as a pay review
- Come prepared with examples and arguments of why you deserve it; organisation is key
- Be confident in your arguments but don’t appear arrogant; this can deter your employer
- Don’t be afraid to negotiate, it can’t hurt to try your luck meeting them half way
- Be prepared to be told ‘no’, you won’t always get a pay rise the first time you ask, but there are other aspects you can negotiate on, like holiday or workplace perks