How do you measure your success in the immediacy?

Measuring success

With so many external factors at play in the retail market, how do you measure your success?  Simple sales targets don't always tell the whole story. Staffing shortages, roadworks, parking problems, competitors opening or closing nearby and other factors can have a major influence on your sales but aren't necessarily under your influence.

Inputs as well as outcomes

Your input with your team as a leader is just as important (possibly moreso) than the outcomes. There are many situations I have come across where a store has improved year-on-year and against target, but with little input from the store manager. A good manager will constantly look at ways of improving the store and their team, day by day.

What other measures?

I have been part of focus groups in the past where we have looked at other measures and KPI's to establish a measure of success.  Some include-

• Number of team members progressing to the management programme as a measure of developing your team
• Average basket size as a measure if getting the most out of the customers you already have
• Sales per man hour as a measure of productivity
• How many customers you sign up for your store card as a measure of driving loyalty

A suite of measures

As a rounded retailer, you will have a series of well-thought-out measures to ensure that you are measuring a well-rounded leader. Each measure will inspire your team(s) to achieve the shared goals of your company, and they will be more motivational than a "sales at all costs" target.

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