At a time of mass redundancies on the high street it is only right to be sanguine about the prospects for the job market in 2021.

These are the most challenging of times for retailers, in particular those with legacy store estates and outdated brand propositions.

Yet many businesses, not least the growing army of digital natives, continue to grow strongly both in terms of revenue and headcount.

As we consider prospects for the year ahead, it’s important to reflect on the opportunities for the sector as well as the challenges. Most importantly, it’s vital to recognise that what we are really experiencing is a period of rapid and unprecedented change that is reshaping the retail sector rather than destroying it.

“What we are really experiencing is a period of rapid and unprecedented change that is reshaping the retail sector rather than destroying it”

There isn’t one retailer in the UK at the moment that isn’t going through some kind of business transformation project. Indeed, my contacts within global consulting firms such as AlixPartners say they have never been busier.

With this in mind, here are what I consider to be some of the key implications for leadership and recruitment in the year ahead. 

First, businesses – and by extension business leaders – will need to be both agile and brave. Air travel aficionados will know it is rare for commercial aircraft to follow their intended flightpath.

Most will deviate from that path due to unforeseen variables such as weather and traffic. Retail bosses will need to think like a pilot and set off on journeys with a clear idea of the destination but an open mind as to the route.

Tough decisions lie ahead about business strategy and the people needed to deliver that strategy. While there will inevitably be roles lost there will also be new ones created, especially in IT and logistics.

“Tough decisions lie ahead about business strategy and the people needed to deliver that strategy. While there will inevitably be roles lost there will also be new ones created, especially in IT and logistics”

One trend I believe will accelerate is the merging of director-level roles to cut costs and enable more agile decision-making. Retail and property director, and marketing and digital director are prime candidates for roles to be brought together under one person’s remit.

This presents opportunities in other areas – the money saved from a director-level salary can be reinvested elsewhere. If you have a digital and marketing director whose core experience is in marketing that opens the door to employing a specialist head of digital one level below.

Given the extent to which the world has changed in the past 12 months, CEOs in post before the pandemic struck are having to decide whether they are the right person to take the business forward.

They will also be asking the same question of their senior leadership team. Invariably, one or two board members will not be right for the task ahead. Some may even volunteer that it’s time for them to move on and let someone with a more appropriate skillset or a greater appetite for major structural change take the reins.

“Given the extent to which the world has changed in the past 12 months, CEOs in post before the pandemic struck are having to decide whether they are the right person to take the business forward”

Mindfulness and wellbeing will also continue to rise up the corporate agenda accelerated by the shift to remote working. We’ve seen a rise in people at board level coming to AGP for executive coaching as they seek to be the best role models they can be.

Businesses in general are becoming more willing to talk about the mental wellbeing of all employees – including those in senior roles.

Linked to this is the fact that the Monday-to-Friday, 9-to-5 office routine is no more. The days of wasting hours on commuter trains just to show face in the office are a thing of the past.

In future, three days a week maximum in the office will become the norm. This in turn opens up new opportunities to employ people from further afield geographically.

Finally, competition for the best talent will be fiercer than ever. But equally, those people in high demand will find themselves under pressure to deliver results – and fast. Honeymoon periods are also a thing of the past.

The next 12 months will tell us much about how the retail landscape will look 10, 20 or more years from now.

I wish readers a happy Christmas and a prosperous new year full of challenges met and opportunities grasped.

Content provided by Anthony Gregg Partnership.

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You can call Tony Gregg on 020 7316 3146 or email him at tony@anthonygregg.com.

Founded in 2003 and located in central London, Anthony Gregg Partnership specialises in the consumer search market space.