Significant Number of Vision Employees Would Leave for a 15% Pay Raise

How many of your staff do you think would leave for a 15 percent pay increase at another store or practice?

ONE-THIRD OF the owners of vision businesses believe at least half their workers would leave for a 15 percent pay increase from another store or practice, according to the INVISION 2021 Big Survey.
There was little difference in the responses depending on whether the employer operated a medical model vision business or an eyewear boutique.

The finding comes at a time of an unprecedented labor shortage in the wider economy, with an estimated 10 million jobs currently going unfilled. Vision business owners are also feeling the pinch with 36% telling the 2021 Big Survey that hiring staff was their “single biggest headache” right now.

Of course, the Big Survey figures also mean that most owners are confident very few of their workers would be tempted by such a modest increase. That should not be surprising given independent vision business are generally good employers. According to the 2021 Big Survey, 87% offer paid vacation, 62% contribute toward medical insurance, 66% offer merchandise discounts and 51% 401K plans, all levels that are higher than for comparable small businesses.

The 2021 Big Survey was carried out between September and October, attracting nearly 400 anonymous responses from owners and managers of independent vision businesses across the United States. The full results were published in the November issue of INVISION and are available online.