Retail and hospitality employees didn’t get to stay home during the pandemic — some were laid off, and the rest went to work, wore masks, installed glass barriers, and kept the consumer economy afloat. Then, in late 2021, the industry was hit with supply chain issues and labor shortages, followed by the war in Ukraine, and now, inflation.
Retail and hospitality workers are struggling the most out of all employees in the industries studied in Mercer’s Inside Employees’ Minds 2022 report. Most retail and hospitality front line employees make $60,000 or less per year. While all of the above challenges hurt people working in the retail and hospitality industry, inflation has been the single biggest hit. These employees have indicated that the emergency money they had saved is now going into rent, food, and other increased expenses that they didn’t budget for.
Three out of five of the top concerns for retail and hospitality employees in 2022 relate to financial security:
Covering monthly expenses remained the top concern since last year, but respondents now indicate that they’re nearly twice as concerned about that as any other item.
The ability to retire rose to the #3 spot, up from #8 last year
Concerns over personal debt are now in the top five
Discover how Mercer helps organizations unlock the potential of the hourly workforce through tailored strategies, improved engagement, and better rewards—driving…
Unlock the potential of your frontline workforce to explore how you can capture, maintain, and leverage skills data to enhance productivity, agility, and…
WE VALUE YOUR PRIVACY
We use cookies to optimize the performance of this site and give you the best user experience. By using the site, you accept our use of cookies.
