Dealers need to hire women, retain millennials, says NADA
Dealers need to take steps to hire more women and to retain millennials, who have a much higher turnover rate than other employees, says NADAs second annual dealership workforce report.
Dealers hired more women in 2012, according to the report. Women were 19 percent of new hires and 18 percent of the dealership workforce overall, up from 17 percent the year before.
No surprise: The study found that sales consultant is the highest turnover position, at 62 percent. But its much higher for millennials, workers in their 20s. One of their beefs: They dont like working more than 45 hours a week. Last year, 41 percent of new dealership hires were millennials, up from 34 percent in 2011. The percentage of millennials in the dealership workforce (23 percent) is equivalent to the figure for the total U.S. workforce.
On average, dealership employees earn 27 percent more than the average weekly earnings of all U.S. private sector employees.
F&I managers had the highest income growth (8.4 percent), followed by service managers (8 percent) and sales consultants (7.8 percent).
The median income of individual dealership employees is nearly equal to the 2012 U.S. median household income ($51,017).Download Bulletin PDF