Examining the challenges and opportunities of talent acquisition and recruitment in urban retail stores

Abstract The urban retail industry in Bangladesh has experienced significant growth, contributing to the overall economic development of the region. To remain competitive in this dynamic and fast-paced sector, urban retail stores must focus on attracting and retaining talented employees who can contribute to their success. This research explores the challenges and opportunities associated with talent acquisition and recruitment in urban retail stores in Bangladesh. The study was conducted using a questionnaire-based survey, with a sample size of 120 participants comprising employees, HR managers, and recruitment specialists from various urban retail stores. The survey covered important aspects such as recruitment processes, challenges faced in attracting top talent, and strategies employed to improve talent acquisition. Findings from the research highlight several critical challenges faced by urban retail stores in talent acquisition. The competitive labor market and the perception of the retail industry as a low-paying and high-stress environment hinder the attraction of skilled candidates. High turnover rates in the retail sector lead to increased recruitment costs and reduced organizational productivity. Moreover, the rapid changes in consumer preferences and the demand for digital skills present additional obstacles in recruiting candidates with the right skill set. Based on the research findings, the study proposes a set of actionable recommendations for urban retail stores to optimize talent acquisition efforts. Enhancing employer branding, offering competitive compensation and benefits packages, investing in employee training and development, leveraging technology for recruitment, and collaborating with educational institutions are among the key strategies suggested to attract and retain top talent. Additionally, offering flexible work arrangements and emphasizing opportunities for professional growth can appeal to potential candidates seeking stable and fulfilling careers. Implementing these recommendations can help urban retail stores build a skilled and committed workforce, gain a competitive edge in the labor market, and ensure long-term success in the dynamic retail industry of Bangladesh. The research underscores the critical importance of effective talent acquisition and recruitment strategies for the success and competitiveness of urban retail stores. By adopting innovative and proactive approaches to talent acquisition, retail establishments can address challenges, improve employee retention, and foster a positive work environment that attracts skilled employees. The study's insights provide valuable guidance for retail store managers, HR professionals, and stakeholders to make informed decisions in talent acquisition, contributing to the sustained growth and profitability of urban retail stores in Bangladesh.