6 Sep 2022
Equipping your staff to be the best they can be
With the average turnover of staff or attrition rate, at 63% in retail compared to the national average of 15% across all employers, isn't it time that retailers take stock of this a little bit more? Considering how much it is estimated to cost retailers - a recent report cited that globally retailers lose $19 billion each year on new staff costs - it's a false economy not to treat your staff as a highly valuable asset. Instead, much of what is spent on recruitment could be channelled into refreshing stores and training staff to enable them to be effective in their roles and provide an exceptional customer journey for shoppers.
The focus should be on retention rather than recruitment and with over 32% of retail staff stating that they receive no formal training at all, it's a critical part of the puzzle that creates the whole picture for your customer experience.
Brands know this and that's why they invest millions each year to train third-party retail partners. New starter or induction training isn’t where staff training should begin and end. An ongoing plan for individual staff members is essential, with regular reviews and new initiatives implemented. Also consider all the brands that come in and train your staff week in, week out and then compare that to the training you deliver to your staff. How does your internal training stack up in comparison and ask whether your own training benefits your employees and enables them to be the best that they can be and are motivated whilst doing it?
To read the full article by Dan Todaro, Managing Director please visit ERT Online