Did you know that up to 40% of all new retail team members fail within the first 18 months of employment? There are HUGE costs associated with employee turnover. Between lost sales, overtime, recruiting costs, lost productivity, distraction, and training costs, many experts estimate that each time a retailer loses a front line team member […]
Fair and Competitive Compensation is a Critical Part of Your Retention Program. But is it Everything? Virtually everyone knows that compensation is important to both job seekers and employees. It is usually the number one factor that prospective employees are concerned about. Surprisingly though, for your current team members, compensation may not be the number […]
Not long ago one of our retail consulting clients received a notification that they were going to be audited by the Immigration and Naturalization Service or INS. They told the retailer’s human resources team that they would be coming by their offices in one week in order to conduct a detailed examination of the company’s […]
Here is a scenario: You are interviewing a potential employee and you want him/her to join your team. On top of the base salary, you may also try to get the potential new hire to say “yes” by offering them a commission on sales, an employee discount program, flexible hours, health insurance, 401k, recognition, contests […]
It is the new year and many retail field managers are taking over new markets and many owners are thinking of expanding their operations. If that is the case, this article is for you! Taking over a Problem Market I remember when I made the jump from running one retail store to running my first […]