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Retailers have been dramatically impacted by the global recession as consumers have pulled back on spending across the board, especially for non-essential goods. The retail industry which emerges from the recession may very well be different from the one that entered it, as consumers will be more cautious (less likely to debt-finance their purchases) and have less to spend as they both save more and continue to pay down existing debt.
Despite the economic conditions, the need to more efficiently manage the talent pipeline and attract and retain the “right” talent (e.g., those with the proper skills and level of proficiency, as well as those that are deeply customer focused) has never been greater. Retailers that attract the best talent and efficiently hire them, rapidly train them, retain them by providing advancement and development opportunities, compensate them appropriately, and all the while align employees’ efforts to broader organisational strategies, will not only survive the current recession but emerge from it with a distinct competitive advantage.
Softscape Apex® for Retail provides a combination of enterprise software solutions, content, and implementation services to cost effectively address the specific HR and talent needs of retailers. Softscape is the global leader in complete people management software solutions that enable organisations to more effectively drive their business performance. As the pioneer in people management – also known as human capital management (HCM) or talent management – Softscape is recognised by leading industry analysts as the most comprehensive and strategic solution, providing complete employee lifecycle management, including a core system of record, in a single platform.
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