RETAIL STAFF HIT BY THE CREDIT CRUNCH  

A report out this week by the principal charity of the retail sector, Retail Trust, shows that the slow down in high street spending is having a detrimental effect on many of the UK’s retail workers who account for 10% of the country’s working population (2.9mn of the 29.4mn currently employed in the UK).

The Retail Trust Helpline which is a free and confidential service available to all retail employees, has reported 25% increase in calls over the last three months from retail staff experiencing increased incidents of stress, depression and financial crisis. The Helpline also recorded a sharp upsurge in calls requesting information about redundancy as well as bullying in the workplace.

Retail Trust, in operation since 1832 and now with the support of many of the UK’s leading retail businesses and retailers such as Sir Philip Green, Sir Stuart Rose and Harold Tillman, looks after the welfare of all people in retail and associated businesses. 

Retail Trust’s CEO Nigel Rothband, said: “Judging by the reports from the Retail Trust Helpline team, the impact that the credit crunch is having on retail staff makes poignant reading.”

Retail Trust Helpline Calls – July to September 2008 – reported:   

• Calls increased by 25% over the last three months (based on previous quarter).
• 23% of callers requested support for counselling services for anxiety, depression and stress.
• Employment services enquiries have continued to increase, with 27% of calls requesting information about potential redundancy and contractual arrangements.
• 16% of employment related calls suggest a sharp increase in incidents of workplace bullying.
• Requests for financial advice have increased, with 20% of calls during the last three months relating to debt management.
• Requests for Legal advice, which accounted for 14% of enquiries, increased substantially over the period.

Rothband added: “There is no doubt that this is a difficult time for retail staff as the credit crunch continues to impact. Retailers are proactively implementing strategies to ensure that staff know where they can go to for support, both internally and externally.  We are increasingly working in partnership with retailers to make sure that all employees feel that they can share their individual worries, letting them know that Retail Trust’s confidential free Helpline is a one stop shop which can signpost specialist services to help them through this difficult time. The Helpline team can also provide access to free counseling and free legal advice services.”

Siobhan Forley, Group HR Director at Arcadia Group, concluded: “We believe that Retail Trust’s Helpline is an invaluable resource for employees in the retail sector. We recommend its use to our employees, confident in the knowledge that they will receive confidential and impartial advice and assistance on a wide range of personal issues that may affect them.”

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