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Staffing, engagement, succession, and bench strength issues, theft and safety concerns, economic and political uncertainty...retailers are up against a number of headwinds today, particularly at the store level.
At the same time, retail stores are projected to see their strongest pace of growth since the pandemic, with The Economist forecasting that brick-and-mortar stores will account for over 85% of total retail sales in 2024. To capitalize on this opportunity, retailers need to create environments where customers and frontline associates alike feel safe, supported, and heard.
In our last webinar, our panel of retail executives and crisis prevention experts discussed a number of strategies that are not only effective enhancing the safety of the retail work environment but also in building a culture of trust and engagement. The areas of training, development, and support they highlighted are summarized in a new white paper, which you can download here.
We know that personalization and enhanced in-store customer experiences are increasingly important to today’s shoppers. And it takes engaged, happy associates to deliver the memorable experiences and superior service they expect. Now more than ever, it’s imperative for retailers to focus on attracting, developing, and retaining people with a commitment to service excellence. That requires strong leadership with the interpersonal skills and emotional intelligence to create a positive, trust-based culture that ensures everyone can be successful.
A recent article on why most frontline retail workers are considering quitting highlights some staggering statistics, and it has me thinking about how onboarding truly is not enough today. We need to be focusing on everboarding. Keeping talent engaged and growing with clear career paths is more important than ever. According to the article, 59% of retail frontline workers have considered quitting their jobs in the past year, a 22% increase compared to 2023. This is a warning that retailers could see a large number of employee departures this year, and just in time for the third and fourth quarter business surges.
I have assembled a talented and experienced group of retail experts from Ulta Beauty, EyeCare Partners, and Axonify for our next webinar on June 18 to discuss the topic of “Strategic Talent Revival: Reengaging, Recruiting, and Building Bench Strength.” Be sure to register and join us as our panelists share their insights and discuss what they are doing to build bench strength and prepare for this new war on talent.
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