Over half of luxury retail employees, including those in the Gulf, are ready to leave their jobs, according to a recent survey by CXG, a global luxury brand consultancy. The findings point to serious concerns around poor employee experiences, a lack of well-being initiatives, and limited career development opportunities that are making it tough for many to stay engaged in their roles.

The report, titled “The Advisor Effect: Driving Retail Success by Re-imagining the Role of the Client Advisor,” covered over 12,000 global retail employees from leading luxury brands. It underlines the key challenges in talent acquisition, development, and retention, providing a roadmap for luxury brands aiming to enhance customer and employee experience in an ever-evolving luxury landscape. Some of the key challenges highlighted in the report include: 

Talent retention challenges: A striking 51 per cent of employees surveyed indicated intentions to leave their roles, marking a sharp increase of 30 per cent in the past two years. This underscores a deepening retention challenge for luxury brands, especially in high-demand regions like the GCC.

Work-life balance and Gen shifts: Only 39 per cent of employees in luxury retail report having a good work-life balance—a concerning figure that highlights growing dissatisfaction in the industry. Interestingly, younger employees are increasingly looking for more than just a paycheck; they want clear career paths, skill-building opportunities, flexible schedules, and purpose-driven work that goes beyond traditional rewards.

Talent attraction and acquisition becomes a strategic priority: The report reveals that luxury retail employers are now expanding their recruitment approach, looking beyond the traditional talent pool to bring in candidates from a variety of industries. They are going in for a strong employer branding for attracting skilled talent by leveraging social media and AI, opening up new possibilities for talent sourcing and strengthening their teams with fresh perspectives.

Skill development: A huge 78 per cent of surveyed customers say a single bad experience with a client advisor could make them abandon a purchase. On the flip side, advisors who create memorable experiences increase the likelihood of a sale by five times. This highlights an urgent need for skilled, well-trained advisors to drive success in the growing retail industry.

Highlighting the insights from the report, Christophe Caïs, Founder and CEO of CXG said, "The rise of digital tools and omnichannel strategies has transformed the traditional luxury retail model, requiring client advisors to blend high-touch personal service with digital proficiency. GCC luxury market's impressive growth, highlights the critical need for brands to invest in their employee experience. As the region continues to outpace global growth, luxury brands must refine their Employer Value Proposition (EVP) strategies to attract and retain top talent capable of delivering exceptional luxury experiences. Brands that prioritise talent development and align with evolving employee values will be well-positioned to sustain competitive advantage and deliver exceptional luxury experiences in the future.”

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The findings come at a key moment for the GCC luxury market, which is seeing rapid growth, hitting US $12.5 billion by the end of 2023. The report highlights the need for stronger recruitment strategies, such as hiring from a broader range of industries and using social media and AI to reach more candidates. By creating purpose-driven work environments and offering growth opportunities with flexible options, luxury brands can help advisors thrive and better meet changing customer expectations.