Chris Traczek |
[ EDITOR’S NOTE ]
Asset management
Whether you’re a CTS retailer with a single site, or you ride herd over a large multi-store operation, you’ve probably come to this realization over your years in business: no matter how hard you try, you can’t do it alone.
Which brings us to your employees, a group whose description runs the gamut from “necessary evil” to “the most important asset.” No matter how you view them, your employees have helped make your business what it is today. (Only you know whether that’s a good thing or a bad thing.)
One thing’s certain, finding and keeping good employees is a never-ending battle for employers in every industry and, let’s face it, the days of an employee calling it quits after 50 years of honorable service with one company, engraved gold watch in hand, are long gone.
Now comes the sobering news that employees are more restless than ever. According to a recent survey on www.CareerBuilder.com, “Help Wanted” signs could become “a bigger part of window signage” for retailers in 2006.
The survey, “Job Forecast 2006,” which was conducted in November and December of last year, found that 35 percent of retail workers plan to find a new job this year, citing pay, workload and other career development factors as reasons for seeking new places of employment.
Meanwhile, compensation was at the top on the list of concerns, according to a press release, as more than half of all retail employees said they did not receive a raise last year and 84 percent did not get a bonus. Additionally, the amount of retail workers who are “dissatisfied with their pay” increased to 60 percent, which is up from 54 percent a year ago.
Other concerns cited include:
- Increases in workload and the stress it has created at home.
- Concerns regarding career advancement opportunities and proper training.
- Being overlooked for promotions.
- General unhappiness with the career advancement opportunities offered to them.
- Inadequate training and professional development provided by employers.
So, what’s an employer to do? Actually, most HR professionals suggest the most obvious solution: treat your employees the way you would want to be treated. More specifically, reward them for a job well done; solicit and value their opinions and suggestions; and accentuate the positives, don’t just punish the negatives.
Whether by kismet or just plain dumb luck, before the CareerBuilder report had even come out, we had chosen this month to focus on HR concerns. Maura Keller’s story on page 24 solicits the opinions of some of the top experts in employee procurement and retention and picks their brains on the state of retail employment as 2006 begins. In addition, we offer Terry McKenna’s regular Personnel Touch column on page 32.
So, whether or not the door to your business has become a revolving one for your employees, the bottom line is that you need to communicate with them on a regular and positive basis. And when an employee does leave, they did so for a specific reason. Find out what that reason is in an exit interview and take that into account when reviewing your employment practices.
Really, you only become proficient with the newest POS system by studying it, seeing what makes it tick and determining how best to deploy it as it relates to your business. Why not do the same with your employees?
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