Retaining talent: Luxe brands show the way

The Indian luxury market is growing fast, thanks to

consumer awareness and their willingness to spend on branded luxury goods. To tap on this growing market many global luxury brands are competing to grab larger share of the market pie. And they are leaving no stone unturned to attract potential customers. And retaining manpower is one of the measures luxury stores are taking. Special attention is being given to employees to make sure they are happy and satisfied with the pay and other amenities provided to them. They are trained, made to dress well and groomed to match the luxury products on display.

One doesn’t get to see the typical salesman trying hard-selling tactics instead he has been replaced with a sophisticated young man/woman with proper knowledge about the brand and its product line. International brands are picking the right talent and training them to reach their expected level and once they are ready to serve customers, efforts continue to retain them. Some brands offer attractive bonus for staying longer, while others have created posts like brand custodians or fashion consultants. Some brands have also gone ahead and changed the store design and layout to attract groomed talent. They are not merely salesmen or saleswomen anymore; a proper career path is created for them so that they can step up the ladder as visual merchandisers, design experts or even buyers.

According to the consultancy firm, McKinsey, over nine million Indian households are a target for luxury brands, and about 40 per cent out of them don’t mind spending a few lakh on a single store visit. So hiring the right talent has become top priority for luxury retail chains. They have begun looking for people with experience in the hospitality or retail background. Some even head to fashion institutes and finishing schools for campus hiring.