Trying to keep retail stores staffed up with good employees is like being thrown into a den of lions without proper training; it can feel a little helpless. Luckily, there are ways to tame the turnover experienced by corporate HR and store managers in retail.
Within the entire scope of retail, as most would guess, hourly store employees have the highest turnover rate at 65 percent. To any other industry, a 65 percent turnover rate would send anyone running the opposite direction. For store managers, however, they take this in stride – just another day at the office.
It’s easy to say, “Just hire the RIGHT person.” However, hiring managers in retail are faced with a competitive job market, competitive wages and at times, little to no experience. What can they do?
Here are 5 tips to help hiring managers reel in turnover in retail.
1. Increase Responsibility
You know what it’s like; when you take a vacation away from work, you feel guilty leaving your co-workers behind and continuously think about that stack of things to do piling up on your desk. This responsibility keeps your foot on the pedal. Increasing responsibility isn’t about guilt-tripping your employees to stay at your company, but rather, it’s supposed to show how responsibility helps keep employees focused. It’s important to feel trusted. Increasing responsibility of your employees will make them feel valued and a crucial part of the company’s success.
2. Money Isn’t Everything, But…
In this candidate-driven market, candidates have options when selecting an employer. Employers are the ones scrambling, trying to attract employees the best ways they can. For employees, wages impact the employee experience and act as an essential detail when deciding where to work. Competitive wages offer a strong retention tool in keeping them.
3. Be Honest & Communicate
Being open and honest up front in the interview process will help clear away any confusion down the road in terms of responsibilities and expectations. Creating a clear pathway from the onset is crucial in keeping employees happy and engaged. Keith Denton of the Dept of Management at Missouri State University says, “Lack of good communication leads to distrust, dissatisfaction, cynicism and turnover.”
4. Enhance Your Company Culture
For store managers, creating an engaging company culture can prove difficult while navigating through company values and expectations sent down from corporate. However, creating an environment that is packed with positive reinforcement and teamwork mentalities go a long way. 88 percent of employees believe a distinct workplace culture is important to business success, which goes along with 94 percent of executives. This is also imperative for the next large workforce coming up in Millennials, as company culture is one of their top reasons for choosing a company to work for.HYPERLINK “https://cultureiq.com/blog/company-culture-employee-engagement-statistics/”
5. Learn from Exit Interviews
In the data-driven world, we now live in, it would seem regretful to not put resources and time into exit interviews to nail down why people are leaving. There are several reasons to conduct a thoughtful exit interview via the Harvard Business Review:
- Uncover issues related to HR
- Understand employees’ perceptions of the work itself
- Gain insight into the manager’s leadership styles and effectiveness
- Foster innovation by soliciting ideas for improving the organization
Proper exit interviews don’t end with the interview itself; effective communication must be passed along through the ranks, all the way up to corporate to ensure proper retention metrics are being recorded.
What Can US Tech Solutions Do For You?
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