Did you know that,
Retail K.P.I can equal one of the following:
1. Key Performance Indicators.
2. Keeping People Invested.
👉 Which do you prefer?
I prefer the 2nd as it allows the first to breathe and live.
We tend to focus on financials as our indicator of success, which may be true but what got you there and at what cost?
A Financial KPI’s methodology tends to put unnecessary pressure on the Team by an Ego based and sometimes Selfish Manager who is only in it for themselves and bragging rights.
This usually brings along with it higher than-normal Turnover, an increased Shrink and an Unauthentic Team Spirit.
A Keeping People Invested approach brings the team along for the ride with a Win or Lose but Learn Attitude which plants the seeds of ownership and Authentic Teamwork.
This method increases Communication, Sales and Profit , but will also save you $$ on decreased Turnover and lower Shrink.
I have seen both versions throughout my Career and always come back to the People Invested approach as the Financial approach tends to be a RollerCoaster ride where many want to get off after the first run.
People first, it is as simple as that.
Short and sweet.
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Have a PHENOMENAL 🤩 Day.