STORES Magazine - October 2008 - (Page 36)

EXECUTIVE SUITE / COVER STORY BY SUSAN REDA, EXECUTIVE EDITOR Retailers take different approaches to keeping associates in the fold R ecruiting employees to work in retail stores is the easy part; it’s convincing them to stay that can be grueling. Turnover in the retail industry is notoriously high. For myriad reasons β€” everything from long hours and tedious tasks to the chance to earn a dime more per hour at the shop across the mall β€” retail employees suffer from a collective case of retention deficit disorder. Statistics reported earlier this year by the National Retail Federation estimate industry turnover at 58 percent for full-time associates and 114 percent for part-time employees. Given the cost of recruiting, hiring, onboarding and training, provide the knowledgeable insight that a seasoned employee retailers are understandably frustrated when an employee who can offer. has been with the company just a few short weeks or months What can retailers do to increase the likelihood of employees sticking around for awhile? Some provide decides to move on. The prospect of inRetail EMPLOYEE turnover flexible scheduling or job sharing; others vesting in an employee who departs beoffer affordable health care, online trainfore the season changes is unsettling at 58% full-time ing β€” even free snacks in the break room. best, but return on investment is not the In this report, STORES looks at the aponly concern: Customer service suffers 114% part-time proaches three retail companies have when there are not enough associates to Source: NRF taken to keep employee turnover low. assist shoppers, process transactions or 36 STORES / OCTOBER 2008 WWW.STORES.ORG http://WWW.STORES.ORG

Table of Contents for the Digital Edition of STORES Magazine - October 2008

STORES Magazine - October 2008
Executive Editor's Page
President's Page
Force of a Different Collar
What Shoppers Think
Bagging the Competition
10 Things You May Have Missed
Numbers Worth Counting
Full Price/Markdown
Retail People
Favorite 50
Sticky Strategies for Retention
Business Intelligence
NRFtech Wrap-up
Warehouse Systems
Selling Tools
Supply Chain
LOEB Retail Letter
Arts Update
Point of View
NRF News
Retail Crossword
Retail Industry Calendar
Last Laugh

STORES Magazine - October 2008