It is no secret that turnover is high in the retail industry. In fact, according to the National Retail Federation, the average turnover rate for retail employees is more than 70%. This high turnover rate can be costly for businesses, in terms of both time and money. Therefore, it is important for retail businesses to find ways to retain their employees.
One way to retain employees is to provide them with opportunities for growth and development. This could include offering training and development programs, as well as opportunities for promotion. Another way to retain employees is to offer competitive compensation and benefits packages. This could include things like health insurance, paid time off, and retirement savings plans. Finally, creating a positive work environment can also help to retain employees. This means providing things like a flexible work schedule, good working conditions, and a supportive team culture. By taking steps to retain their employees, retail businesses can improve their bottom line.
Here at Tower Systems we help retailers hire and retain employees in a number of ways. In fact, we made a short video about it yesterday:
Thanks to our structured training materials, employees in retail businesses using our software have a pathway of education that can hold them in good stead as they move forward with their career.
Being able to learn like this encourages them to appreciate their employment more, and this facilitates stability within the local small business team.
Retailers looking to staff their stores with the best talent should consider implementing these tips, structuring their business to be less labour reliant and more accurate when it comes to data. And, once you have the right team in place, be sure to use Tower Systems POS software to help manage and retain your employees. Our software is designed to make the retail experience as smooth as possible for both customers and employees alike. Contact us today to learn more about how we can help you build a successful team that will keep your customers coming back for more.
See more at our website www.towersystems.com.au or call us for a human to human chat on 1300 662 957.