Data: More than half of retail supply chain leaders considered quitting in the past year
In association with
Retail Week’s latest report, Chain Reaction, features findings from interviews with retail supply chain and IT executives on their motivations, concerns and aspirations for the sector
Some 56% of UK retail supply chain and IT leaders contemplated leaving their jobs in the year from February 2021 to February 2022.
This is one of the topline findings from Retail Week’s new report Chain Reaction, produced in association with GreyOrange, which lays bare the challenges faced across the supply chain today.
The report, for which Retail Week interviewed 50 UK retail supply chain and IT leaders, makes it clear that more needs to be done across the industry and within government to help supply chain bosses and their teams deal with mounting pressures.
How are those working at the forefront of supply chain, IT and tech feeling?
Supply chain sentiment in numbers
27% say an additional 31-40% of budget is required to meet their current supply chain and tech needs
56% have considered quitting their jobs in the year from February 2021 to February 2022
12% complain that the chief executive and executive board do not understand the pressures they are under
25% believe UK policymakers are not doing enough to alleviate their burden
Positively, the report shows that 88% of the supply chain and IT leaders surveyed say they feel supported in their role by those in leadership, and 64% feel more supported than they did two years ago.
However, as already cited, 56% have considered leaving their jobs in the past year. The inclination to leave may be specifically related to supply chain pressures, but it may also be a symptom of the Great Resignation – over the past two years, a high volume of people have quit their jobs, seeking a career change. This has impacted retail more than most industries.
Responses given by supply chain and IT leaders who feel ‘somewhat negative’ or ‘ambiguous’ about the state of their business’ supply chain list a combination of issues with support and transparency from leadership and operational and logistics challenges.
These include statements such as “there are massive support issues currently”, “I’m unsure about what’s going to happen next”, “labour shortages are causing spiralling costs and hauliers are reneging on contracts left right and centre” and “we have not been able to stock products as usual and this has led to a decrease in customers and has accelerated struggles with customer retention”.
12% complain that the chief executive and executive board do not understand the pressures they are under
A not-insignificant 10% of those surveyed say they do not feel supported by senior leadership and 12% complain that the chief executive and executive board do not understand the pressures they are under.
“I think most people [in retail] are holding on by a thread,” was one supply chain leader’s gloomy analysis.
Retailers that are “very negative” about their own business’ supply chains blame Brexit above all else. Other negative responses relate to staff shortages, including a lack of lorry drivers and hauliers reneging on contracts, and the uncertainty over the procurement of goods at a time the business is “questioning everything about the supply chain”.
Alongside sentiment, the report takes a deep dive into the investments supply chain and IT staff want prioritised, opportunities they see for the sector, a closer look at the challenges they’re facing and, crucially, how they feel they can be overcome.
Hear their views by accessing Chain Reaction: 50 leaders on the new thinking and tech reinventing supply chains here for free today.
The insights provided will help you to:
- Understand what your supply chain strategy must look like going forward
- Navigate new thinking required at chief executive and board level to optimise decision-making
- Get closer to the technology you must invest in to stay ahead of disruption
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