High turnover rates is an issue that the retail industry faces particularly more than others, with rates climbing the charts more and more each year. This hurts retailers with low productivity, low profit margins and reduced customer satisfaction. One area you should look at to tackle this issue is staff training.
Every retailer has some form of onboarding and training for their employees, but usually this isn’t at the quality that it should be if you want to retain as many employees as possible. Staff shouldn’t be trained once in their time at your company – rather, training should be an ongoing knowledge-sharing process that consistently provides them with tools for growth and development at all points of their career. Here’s 4 reasons why strengthening your training strategy can be a game-changer to staff retention:
1. It provides staff with better long-term growth and learning, showing them the path to career advancement
A big factor contributing to turnover is employees feeling like they are at a dead-end job, where their career is unlikely to advance with a promotion, or they are unlikely to learn new skills as an individual. By making learning and development a core element of their time in your company, staff will constantly gain new skills to empower the advancement in their roles. With sight of growth in the company, and a feeling that they can still always learn and do more on the job, staff will be less likely to leave.
2. It enables staff to be better equipped for their jobs, leading to higher job satisfaction
It’s a fact that when you do something well, you’re more likely going to enjoy doing it as well. That’s the same for how your frontline employees work – for example, it’s unlikely that they will happily serve customers if they don’t know how to properly check stock or how to answer questions about the latest promotions. By constantly feeding them up-to-date, useful knowledge for their roles, you’ll see staff hit new goals and achieve more. Once they are able to perform their roles to the best of their ability, they’ll likely be more satisfied at the company and choose to stay longer.
3. It shows that you, as employers, care about them enough to invest in them, which strengthens trust in management
As previously mentioned, training is usually enrolled by companies as a one-time event when an employee joins the company. By providing your workforce with more than that, you’ll likely stand out of the crowd from your competitors by showing your current and future employees that, as a company, you care about your team enough to invest in their professional and personal growth. This is an impressive way to show your staff that you value their input, and believe that they have what it takes to grow and contribute to the company in the long-term.
4. It fosters a culture of learning in the workplace, which consequently boosts staff engagement
By making learning an ongoing part of an employee’s work life, you will undoubtedly see elements of this spill over into the company culture. It’s likely that it will foster a value for idea-sharing, brainstorming and discussions in the workplace, which keeps staff engaged and on their feet, while further empowering them to contribute to the company’s achievements. With such an engaged workforce, you’ll be sure to see turnover rate drop.