How do you retain your talent?

Retailers, how do you keep hold of your talented employees. In my experience in UK retail, there are always a large proportion of the team that are students, those returning to work, those doing this whilst they look for something else. Often these are talented and valuable members of your team, and you've spent time and money in recruiting and training these people. Your customers build a rapport with them and they know your business well. I don't think that there are ways of keeping 100% of these employees happy or a single way to make a large swathe of them stay but there are methods to make each individual have a higher propensity to stay.

If you are in retail, your traditional armoury in this area can often be limited. You will probably have restrictions on pay rises, bonuses, overtime, promotion, transfers and formal training. This doesn't mean that you should give up. There are other means and ways of improving and maintaining employee morale and this means that each member of your team is more likely to stay. And in this sentence lies the first such thing that you can do to help.

If you treat each member of your team as an individual then you will immediately increase their happiness at work. It sounds simple, but I can tell you from experience that not every manager or business owner does this. A large part of feeling valued by an employer is feeling that they understand you and care about you - not just in your job role but in your life. One of the very best mangers I've worked with had a fantastic memory for what her team had told her and could recall those little details that meant something to you. Mention that you were going away for the weekend in a few months and she would wish you a nice weekend just before and ask you how it went just after. Whether this was genuine interest or a faked act it went a long way to ensuring that the team worked really well for her and respected her hugely.

I'd say a similar but distinct thing is to ensure that your team feel appreciated. Money isn't the only form of appreciation here - just saying "thank you" really does go a very long way. Allowing a valued team member to go 5 minutes early to catch their children's school play or a similar act ensures that feeling of value and trust.

There is the issue of promotion that can be a major factor here, particularly with your student population. By promotion, I don't just refer to the straight up and down promotion lines of sales assistant, team leader, assistant manager, store manager that traditional stores have as their structure. Other, sometimes more subtle, changes to someone's job role can add to their interest and commitment to the business. Key holding duties, involvement in special projects, leasing a small team in a specific task or learning new parts of the operation all add to the interest level. And this, in turn, adds to the chance that your team member could stay.

Now these are ways to attract and retain quality employees from whatever their background. Never underestimate how interesting and rewarding the job is on how much your team want to stay. And that goes for all of your team, no matter what their background.

Make decisions based on long-term trends rather than one-off incidents

I've been working with a few retailers recently and we've been looking at the long-term trends in their business. This is getting a fix on what us happening on an average day or event rather than looking at one instance and making a knee-jerk decision.

For example, one retailer has a fortnightly run when they change their promotions over. It keeps their offering looking fresh and keeps customer interest levels high. On the first such changeover of the new year, there were a few changes to how things are done and this meant that the team delivering this were completed early. The retailer wanted to immediately cut the hours allocated to this task and make a cost saving. However, my instinct was to wait and assess how this change went over proceeding weeks, to ensure that the time saving was ongoing, rather than just a one-off event. As it happened, there was a cost saving, but only at about half the level that was expected after the first incidence.

My point is, that by making a decision after the first event, you aren't getting the full picture and may have to make the decision more than once.

Every change to your business will necessitate at the very least, a thought process that looks at whether this changes affects other parts of the business. A new product may need staff training, a change in opening hours will need staff consultations for a change in their hours. And so on.

The next step is how to evaluate the change and how you will make changes, and this is mainly done with evidence. See how the new product is projected to increase sales and how much extra/different knowledge each team member needs to be able to sell it. From there, you have a training budget and can measure this against expected sales. Ensure that it is cost-effective.

As in the example I cited above, an analysis if the changes over several weeks and plotting the amount of time saves on each changeover will give you an average number of hours saved per fortnight and then either a reallocation of hours elsewhere in the business, or a staff consultation to see where hours can be saved. In our case, there was a vacancy that came up somewhere else in the store and someone volunteered to change roles and more over there.

Communication is the key, and being able to discuss these matters openly and honestly with your team will ensure a smooth transition in the event of any change.

How to sell your home: What estate agents don't tell you by Steven Thompson http://www.amazon.co.uk/dp/B00I5HOJAM/ref=cm_sw_r_udp_awd_awF5ub0SFJ9E4

http://www.amazon.co.uk/dp/B00I5HOJAM/ref=cm_sw_r_udp_awd_awF5ub0SFJ9E4

They say retail is detail - I often disagree

In my many years working in retail I've often heard the mantra retail is detail. Now in small local retailers, particularly when it's not a fast moving product or products, then this CAN be true - details can make a difference. In large retailers, discount retailers, supermarkets, corner shops, convenience stores, newspaper shops and the majority of clothing retailers then retail is not detail. In these case, retail is about being 90% at most-

90% of your customers served quickly

90% of your products available

90% of your customers asked if they have your loyalty card

90% staff attendance

And the list could go on.

So not very detailed then.

Don't be downhearted, though, because this 90% isn't an horrific figure. On one hand it's probably as much as your competition is managing. On the other hand it still gives room for improvement.

Now to get up towards 100% will take investment. Better wages to get better staff attendance, more staff to keep queues down, more staff and more stock holding to keep availability up, etc.

So the next step would be to ask the question -"what type of retailer do I want to be?"

One that keeps 90% of customers happy? Or do I want to spend a little more?

If you're a small, local, self-managed retailer then is suggest aiming for the 100%. It's being different that will get you noticed. It's really hard to try to compete on price, especially against national or multinational organisations that are bound to have much deeper pockets than you. Providing better service, a better experience at a higher price point is letting your customers know that you are different, you are better.

If you're a large multi-site retailer and you can't be at every site, every day, all day then 90% isn't a bad starting point. You can push your team on from there, starting with the store managers. Motivate them and watch this motivation filter down to the customer-facing team members.

You can have an online offering and not damage the High Street

I was reading this article on the BBC website this morning and it seemed to strike at the heart of the online vs High Street battle-

http://m.bbc.co.uk/news/business-30928438

Although it's difficult to fully quantify eBay as a direct competitor to your UK High Street store, there's more than meets the eye in what eBay offers. Established retailers have their own eBay pages where they sell off stock that is discontinued or slow-selling elsewhere. As long as you have a fix on the costs then there is nothing stopping you using the eBay marketplace for any if your products.

I have spoken many times on this blog about the advantages of having an online offering, especially when you offer Click & Collect as the main way of delivery. This gives your customers access to a range that you may not be able to carry in your shop every day of the week. eBay could be an extension to this - carry your full range, offer larger items as collection only and smaller items for postage. Amazon marketplace is another option for sellers of some products.

As well as individual retailers making use of the technological marketplaces offered by these American retailing giants, there is the question brought up about how this competition affects the future if the UK High Street. My blog is based around how I see the future of the High Street. I can see a massive challenge from online, I can see a massive challenge from overseas companies, such as eBay and Amazon, but I can see a bright future if retailers differentiate and if they can make the most out of online.

It's not a direct choice between online or offline, but the two markets will change. The main man at John Lewis has recently said that customers can't go on expecting to have items delivered and pay the same price that they pay in physical shops. This to me seems contradictory, even taking into account delivery costs online must have much less in the way of overheads.

Overall, I think that if you are an individual High Street retailer you can still stand out and be successful. If you differentiate on quality and service and use online to supplement your offering then this will keep your business vibrant and Click & Collect will help keep people coming to the High Street and keep that vibrant as well.

How do you reward your high flyers?

It struck me again this week something that has come to me time and time again during my time in retail. It's a question of reward.

Now if you're an entrepreneur, a single shop owner (as I hope many if my readers are) then don't start to worth at the word reward. The reward I'm putting forward as the most valuable is one that costs you nothing but time.

It's the simple "well done" or "thank you" and it's worth it's weight in gold. I witnessed this week a team member being told that their work was "awesome" and their area "had never looked so good." These comments had that team member bouncing all day and their work improve de enmity than the "awesome" level that had been achieved earlier in the week.

It's comments such as the "well done" or "thank you" put into your own words that make a huge difference to your team. I was a store manager a long time ago and it was part of the daily routine to thank every team member at the end of every day. The store doubled it's sales in a 12 month period. Now there were other factors at play here, but a team feeling recognised and valued were part of the motivation that enabled them to enact the other changes that made us successful. If the team were not feeling valued, they may not have been as receptive to other ideas.

It seems so basic, to talk to your team at every opportunity, but it's so often missed. I've worked in retail organisations where the store management team are hardly seen. They are office managers, who occasionally have to leave their office to pass out a task to a team member but spend the vast majority of their time cooped up in an office carrying out administration tasks or even less. In this experience, the team self-manage and tend to get the tasks done that they want to do, and some if the less favoured tasks just don't get done. It's a huge leap of faith to have in your team, to leave then to their own devices, and not one i'd take. I always want to have contact with my team and customers and I want an employer that empowers me to do that.

Have you started the year with a bang?

Calling all retailers - 2015 has started and those selling off all their unsold Christmas products have started with somewhat of a bang. Footfall has been good, the weather has been kind and opening hours have attracted a lot of bargain hunters, in store and moreso online.

Don't dismiss online. Remember back to previous blogs where I spoke about click and collect.

http://mytimeinretail.blogspot.com/2014/04/asda-gets-in-on-click-collect-boom.html

I have seen research by an unnamed High Street retailer that the average customer spends approximately a further £8 when they come into store to collect their goods. The value of this is immense.

If you haven't got your act together for 2015 then ensure that you start to think and act straight away. Get your team together and work out what you want to achieve this year, and then build stepping stones if a rinks that will allow you to get there.

Good luck!

What Traditional Estate Agents don't tell you: A guide to getting the most out of selling your home by Steven Thompson http://www.amazon.co.uk/dp/B00I5HOJAM/ref=cm_sw_r_udp_awd_lhuQub1ZH8DHV

Look after your team as well as your customers this week

It's Christmas week and my short message today is to remember your team as well as your customers. It's all to easy to just focus in the task in hand, especially if you're busy with those last sales before Christmas. But remember that as busy as you are in your professional and personal life, your team will be just as busy. Leaving a few minutes early to catch the kids school nativity play or an extra fee minutes on a lunch hour to get groceries for Christmas dinner should be something that's given appreciation for.

Also think about the environment you work in. A non-uniform day or a themed dress day, maybe for charity will lift the spirits and do some good. Laying on snacks, particularly festive snacks, will also keep the team's spirit high going into those last few days before Christmas.

I've written before in this blog that team spirit makes a big difference to your customers, and eventually your bottom line. People do business with people, not special offers or price promotions. Ensuring that your people are fully motivated and feeling valued will ensure that your customers want to do business with them.

I was watching a version of A Christmas Carol yesterday and a line jumped out at me that I'd never noticed before. Ebenezer Scrooge said  to the ghost of Christmas yet to come "I'll try to keep Christmas all year round." I thought that this sentiment rang true for this particular blog. All of the above, keeping the team motivated, etc is something that you should try to keep all year round. It's important to have a well motivated team at all points if the year.

Is it condescending to speak to all of your team about the cold?

It's cold and by all accounts it will be getting colder. It's the time of year when dark skies and cold weather make commuting more time-consuming and more dangerous. I think it's a good idea to speak to each member of your team about leaving a little earlier, driving a little safer, discussing where they park and ensuring they wrap up warm.

Some may see this as condescending but I think it's caring and shows some interest and compassion. Making sure that all your team are safe and well is a good start to every day.

The way you carry this out is entirely up to you - be it a team thing, a one-to-one or an internal email, I think the short amount of time taken to do this will make a difference to all.

Just a short note today, inspires by the weather!