Budgets, Profits and Sales Oh My.
In Retail this is the backbone to all decisions made towards Labour, Hiring, Training, Marketing and Purchasing.
But what happens in Retail when the forecast is not met….well besides panic, blame and quick and swift generic reactions, the Team Member in the field and on the floor suffer, therefore the Customer suffers….and well you know the rest.
Unfortunately and in may occasions the necessary cuts role down hill and are not applied with any consistency up above as this is where the buck stops.
I can not tell you how many times I had to implement these cutbacks but continued:
☆ To have “so called” business lunches.
☆ Spent on a ton on printing out useless documents considering we are now basically digital.
☆ To attend useless meetings just to strike someone’s ego that could have been done through a Skype call.
#Stopthemadness and think about the chopping block and your impact on your most important Customer: Your Employee.
☆ Lower Productivity due a Lower Motivation.
☆ Increased Stress therefore more Sick Days being used.
☆ Lower Productivity and compliance which will turn into lower sales.
☆ Higher Turnover.
This may work in the short term.
You may see an increase in Sales and your Bottom Line.
But in the long run, the costs of Hiring , Retraining, and Internal Theft will erode whatever cushion you built up with in the first few months.
So stop high fiving each other around that fake laminate wood table and get out there into the fields and talk with your front line Team to listen and see the impact that has had been created.
Oh yeah…forget about taking your Company Paid Lunch because:
1. There is no time for it due to labor cutbacks.
2. And you are trying to save $.
Have a PHENOMENAL day.