Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/390025
this full-time versus part-time issue, but major retail- ers went from a 70 to 80 percent full-time workforce in the early 1990s to a force of some 70 percent part- timers today, or higher, according to Burt Flickinger III, managing director of Strategic Resource Group. Bureau of Labor Statistics numbers seem to reinforce that estimate. Though the 1.4 million jobs created in the first six months of 2014 were the highest number of any comparable period since 1999, the majority of those were part-time positions (less than 35 hours per week), according to the agency, which reported a June increase of 1.1 million part-time jobs, offset by the loss of 708,000 full-time positions. Over time, retailers' overuse of part-timers and temporary workers can hurt landlords by lowering the percentage rents and reducing property valuations, which are based on net-operating income and total sales, according to Mez Birdie, CRX, CSM, director of retail investment at NAI Realvest. Landlords should not hesitate to remind their tenants that full-timers typically have better people skills, take more pride in their jobs and are more mature and punctual than part-timers, Birdie says. And the cost of training part- timers tends to be a poor investment because of the high turn- over rate, he notes. Moreover, the expanded use of part-timers often subjects these workers to unpredictable scheduling, making it difficult for them to plan a household budget or to schedule shifts at a second or even a third job, says Phibbs. Indeed, many of them languish in an "on call" status. "Retailers then wonder why 20 S C T / O c t O b e r 2 0 1 4 r e T a i l i n g T o d a y Land Sales | Carveouts | Building Sales and Leasing | walmartrealty.com | @walmartrealty Walmart serves more than 245 million customers weekly. They could be your customers, too. Proven locations. Convenience. Customers. These are just a few of the reasons so many businesses choose Walmart Realty for their commercial real estate needs. With one-stop shopping for land sales, carveouts and building sales and leasing, you don't need to go anywhere else. P h o t o : S w e e t B a B e e J a y p a r t - t i m i n g m a d e t r o u b l e f o r h o m e d e p o t .