Retailers shift their ad spending from TV, radio and print ads to digital ads.
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At almost one-half of all organizations-47.2%-the top web retailing manager is a direct report to the company president or CEO, followed by 40.6% who work for a chief information, financial, operating or marketing officer or an executive or senior vice president in charge of business development. At 12.2% of the companies taking part in the survey, the manager in charge of e-commerce reports directly to the board of directors or already is the top executive within the company.
The survey asked web retailers to reveal the annual package, including salary and performance bonus, they are paying their top e-commerce and digital marketing executives. The research reveals that 17.9% pay their chief executive less than $75,000 per year while a nearly equal amount-17.4%-pay from $75,001 to $100,000.
To attract qualified candidates and retain employees, 57.6% of web merchants also are offering their workers incentives other than basic health and disability benefits. But despite offering more perks and benefits such as working from home, additional performance bonuses, added vacation time, product discounts and even on-the-job massages, web retailers still face a long wait in filling their available senior e-commerce and marketing positions.
At 50% of all companies in the survey, it takes two months or less to find and hire the right candidate. But 43% of respondents say a search for a top e-commerce manager or specialist can last from 90 days to six months, with 7% taking more than 6 months to fill an available opening.
In general, it’s getting tougher and taking longer to fill available executive positions because retailers are competing for the same talent pool against companies in other e-commerce-intensive businesses, such as financial services and digital advertising. “I don’t see this tight labor pool loosening up anytime soon and that means that web retailing companies will need to become even more creative in their approach to the hiring process,” Gore says. “It’s basic supply and demand. Talented managers will go where they can get the best compensation and also where they believe they can have the biggest impact on the organization.”