Elearning! Fall 2007 - (Page 27) outwiththeold which awarded it a grant to develop merchant training as part of an overall effort to build jobs in the retail sector. This win-win partnership gave Saks extra funds for program development, and the NRF obtained rights to use the training for its members. A FOUNDATION IN COMPETENCIES Research conducted by Bersin & Associates has found that using identified competencies as the foundation for training and other talent processes pays off big in terms of business value. The Saks training organization made this process an integral part of the merchant training initiative. Training team members set out to identify the competencies needed for success in four merchant positions. The resulting competency database would be used to build the new skill requirements for both new and incumbent merchants. The team took the following approach: Develop initial competency statements for four merchant positions. Conduct more than 80 interviews with top performing merchants and their supervisors in order to revise and validate the statements. Finalize competency statements and solicit approval of senior leadership. 1 2 3 Foundational The team canvassed merchant supervisors for input on current skills of employees, needed skills and other information. The team then used the competency statements to conduct a training needs assessment. Through an online survey, the team canvassed merchant supervisors for input on current skills of their employees, needed skills and other practical information. The team actively marketed the sur- Skills Courses RETAIL MATH Objectives: Learn retail math formulas. Apply formulas to business situations and solve problems. >> Financial performance: Calculate and analyze stock, average inventory and turnover. >> Style performance. >> Data analysis: Sell-through, penetration, percentage change, markdowns and aged inventory, markup, ownership and cost complement, average weekly sales and WOS. >> Understand and apply concepts: Learn how COGS, GM, and GMROI metrics are calculated and how they impact the business. >> Systems training: Know how to access, read and analyze data from merchant systems. THE BUSINESS OF BUYING: RETAIL CONCEPTS AND PRINCIPLES Objectives: Learn the role and responsibilities of the assistant buyer position. Be able to explain the buying process and recognize how merchant decisions impact the business. >> Life as a merchant >> Roles and responsibilities/partners for success >> Strategic direction >> Buying process >> Career growth and next steps ONBOARDING Objectives: Assimilation of new associates into the company >> Overview of Saks and corporate culture >> Job roles and responsibilities >> Job objectives and criteria for success >> Team members Elearning! Fall 2007 27
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