October 2016
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October 2016
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Retail Profitability Starts with Engagement

Tuesday, October 18, 2016

Retailers in Canada are struggling to keep hourly workforces engaged and retained, which is, in turn, negatively impacting profitability. According to a national study titled Factoring People into the P&L Equation, only 17 percent of retail managers think their hourly workers are motivated and engaged. Because of this, about half of these managers say at least five percent of their staff members leave in about three months. One of the largest barriers to engagement, according to the study, are poor staffing practices, and the tools retail managers are currently using consistently fall short. The study revealed 72 percent of managers aren’t satisfied with their workforce management systems ability to create accommodating schedules, and 62 percent say associates have quit over ongoing scheduling issues. “Employee engagement needs to be more than a ‘feel-good’ corporate initiative for retailers,” said Steven Kramer, co-founder and CEO of WorkJam – the study’s sponsor. “Most retailers don’t realize the significant financial impact employee engagement has on their bottom line. If they want to increase profitability, they need to start at the root cause and adjust how they engage their workforce.”

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