How to Seek and Retain Talent in a Changing Retail Environment
How to Seek and Retain Talent in a Changing Retail Environment
PRESS RELEASE - 6/14/2017 - By Carole Witkowski (VP of Human Resources, Batteries Plus Bulbs)
It goes without saying that, in the past few years, the retail space has experienced tremendous change and disruption. While significant media attention has been given to the thousands of stores that are closing due to competition from online retailers, other chains are still thriving in this difficult environment. For the successful stores to remain that way, finding employees who will provide an excellent customer experience is paramount. However, when trying to attract top talent to keep your business on the right path, how do you demonstrate your value proposition to job seekers and differentiate your business from the competition? Today, human engagement is critical in retail; and hiring the right employees—and retaining them—is the key to maintaining growth.
Batteries Plus Bulbs, a leading retailer in batteries, light bulbs and phone repair, has over 700 stores nationwide with thousands of employees. Our commitment to a quality customer experience works in tandem with our dedication to hiring quality people. As such, we’ve provided the following tips on how your business can also capture great talent and reward them in ways they will value and appreciate.
Hire winners and help them keep winning
In retail, a store’s reputation and subsequent sales are often won or lost as a result of its people. And in retail today, a bad customer experience no longer dies with just that one lost customer. Not only has the age of the internet spawned review sites like Yelp by the dozen, but consumers also tend to share their bad experiences on social media sites like Facebook as well. It used to be said that an unhappy customer would tell 10 people about the experience. Now you can tell thousands with just one status update.
To mitigate leaving a bad taste in customers’ mouths, start at the source: the talent. Quite plainly, you have to identify and elevate your most successful employees. Easier said than done, of course, but there are a few ways to identify hard-working and reliable employees early in the process.
When you have made a hire you are excited about, show it by giving him or her a project to own right away—however big or small. This immediate responsibility will demonstrate to new hires that you value their contributions and their ability to get things done. What’s more, this method is mutually beneficial—you will know you’ve hired the right person because he or she will want to provide value as well. This initial project is also a wonderful opportunity for the new hire to set personal goals, which can be updated throughout his or her tenure at your company. Work with your employees to set and reach these goals. These personalized programs will not only help you form stronger relationships with your employees but will also make them feel like a valued member of your team.
Offer value
In terms of added benefits, retail can be a tricky environment. What appeals to one employee may not appeal to others. Zoom out on your staff and think creatively about what would motivate them and make them feel valued based on their life stage and interests. Are you hiring mostly college kids? Consider offering benefits like tuition reimbursement, or talk to local banks and see if a financial advisor is available to speak with your young staff about money management. These kinds of presentations are often offered free of charge and are a great way to help those who may be new to the job market learn more about how to develop good financial habits.
Are some of your employees parents or helping to take care of parents of their own? Health insurance, such as an HSA Section 125 Cafeteria Plan, can go a long way. Looking for a more all-encompassing benefit to offer? Consider paid time off or overstaffing your store to allow for more flexibility. Yes, these tactics may lead to slightly lighter wallets, but the added sentiment felt by employees will contribute to a more motivated workforce. In fact, a study by the American Psychological Association found that 91% of workers say they are more motivated when they feel they have the support of their management.
Create personalized experiences
For millennials, it’s not just money that talks anymore. Young people value experiences—78 percent of them said they would rather spend money on an event rather than an item, according to a study by Eventbrite. If you want to retain this young talent, speak in terms of what they value and bring some fun to the job. Instead of always providing a financial reward, consider providing tickets to a professional sports game or a concert.
Listen and get to know your staff, and take note in their interests. Then, when an employee does something exceptionally stellar, reward them in a way that resonates personally. Be a leader, but be a humble one. Does a staff member love a certain kind of dessert? If so, bring it in one day as a surprise. Celebrate your employees, and show them that, while you may have different roles and job titles, you are all on the same team and ultimately working toward the same goals.
In retail, your employees are the gatekeepers to your success, and your employment strategy is arguably the most important factor in determining said success. When your staff feels appreciated, your entire business will reap the added rewards.