Every business is looking to improve productivity and performance, but this is especially true in retail—an industry plagued by low levels of engagement and high percentages of employee turnover. However, a study by researchers working with Gap Stores recently revealed what might be the silver bullet in keeping employees satisfied and productive: consistency. Conventional wisdom in retail is that lean, unstable scheduling is inevitable in the fast-paced brick-and-mortar retail industry. Managers frequently post schedules at the last minute, schedules can change at a moment’s notice, and employees aren’t guaranteed a consistent number of hours or regular shifts. It turns out that making a concerted effort to avoid these practices yields tremendous returns: According to the study, the 28 stores that intentionally provided employees with consistent work schedules saw a 7 percent increase in store revenue. This means that an approximate $30,000 investment in labor hours yielded nearly $3 million in increased sales. Stores also saw decreases in theft, decreases in managerial time spent dealing with scheduling concerns, and improved organization.
Increasing Consistency Increases Profitability in Retail Sector