A common mistake made by retailers during times of downturn is to slash employment. As staff costs are usually the second largest expense for the industry, this gives financial relief, but only temporary. For the long run, not only must employees be retained, but the right corporate training exercises be provided to them, so they may develop as the true assets of the company. In fact, having real people is where retailers have the biggest advantage in comparison to their online counterparts. A three- step system, must be followed by the retailers to set this trend right. First of all, the data warehousing done needs to be analyzed to see staff turnover and absenteeism. Next up, the staffing levels could be reversed for periods to check for effect. And finally, the results need to be implemented across the organization, all branches.

Source:https://knowledge.wharton.upenn.edu/article/retail-staffing-model/

Uploaded Date:16 May 2019