A survey from Cox Automotive, a WANADA Kindred-Line member, shows that there is a significant amount of staff turnover in dealerships nationwide, but that a lot of interest from younger generations may indicate that more stability is on the horizon.
According to the Cox Automotive 2019 Dealership Staffing Study, dealership turnover in 2018 reached 46 percent, more than double the rate across all sectors in the American economy, which was 19.3 percent. Sales staff turnover has gone up steadily in the past three years as well, reaching 80 percent in this year’s study.
But young millennials and Generation Z may end up changing that trend. Cox estimates that nearly 1 in 5 members of the American workforce will be part of Generation Z by 2020, which is defined as those born after Jan. 1, 1997. The study reports that 32 percent of Gen-Zers and 36 percent of young millennials (born between 1991 and 1996) are interested in working for a dealership, compared to 21 percent of older millennials and 19 percent of Gen-Xers.
In a competitive market for labor, employees have much more flexibility than they did during the depths of the Great Recession, and a majority of dealership employees say they would like more job and skills development, more regular meetings with the supervisor, and of course, increased vacation time and a flexible work schedule that leaves nights and weekends open.
To read the full study, click here.Download Bulletin PDF