YRC Shares Expert Insights on How People Strategy Drives Retail Growth and Expansion

YRC’s retail consulting team highlights the vital role of people strategy in driving retail growth and expansion.

In this communiqué, the team of retail operations management consultants of retail and eCommerce consulting firm - YourRetailCoach (YRC) highlights the significance and nuances of managing people in shaping retail scale and expansion. These insights are intended to be considered for incorporation in improvising retail growth strategies over time.

Direct Impact on Customer Experience and Customer Loyalty

Employees leave a direct impact on the quality of experience received by customers and the loyalty they decide to attach to a brand or business built over time. Salespersons, cashiers, customer care executives, and delivery executives are some of the most prominent faces that come into contact with customers. How these employees present themselves and deal with customers directly shapes customer experience and, over time, customer loyalty. Without the required and desirable skills and competencies, the intended brand image might not be portrayed. As retail growth consulting partners for numerous clients, YRC maintains that job descriptions and KPIs should also draw inputs from CX and CRM strategies.

Securing Enthusiasm and Commitment

Skilled and motivated employees tend to perform better with more intense levels of commitment towards their roles and responsibilities. Like customer loyalty, financial incentives alone are not sufficient to win the commitment and enthusiasm of employees. For this, businesses must focus on improving employee engagement, maintaining a professional yet people-friendly work culture, having a fair, transparent, and productive performance management system, careful selection of people in leadership roles, respect for work-life balance, scope for career and personality development, and adherence to established hierarchies for workflow as well as communication to name a few. The vision for business growth and expansion is something that should reflect in the attitude of employees, and it cannot be about financial incentives alone. Of course, it is difficult to build a perfect team, which explains why having the right people and then managing them properly is so critical.

Quality of Leadership

The quality of leadership across an organisational structure has many immediate and far-reaching implications on the growth and expansion endeavours of a retail enterprise. Good leaders help brew in-house talent, which in a way prepares an internal mechanism for succession planning. Although growth and expansion are not sudden events, it is also not easy to find the right people from the outside to fill in the gaps. Also, it can be a little demotivating for the existing employees, especially not to be given opportunities to the deserving ones to rise.

The quality of leadership affects how employees are treated in an organisation. This treatment manifests in forms like routine communication and conversations, supervision and support, feedback and encouragement, and performance reviews.

Most big organisations often overpower their managers and supervisors with sweeping authority over matters like performance reviews and ratings, pay hikes, promotions, job security, etc. This is not good for the health of an organisation. In an environment of unfair and biased leadership, people find it safer to keep their jobs and let things remain as they are. Retail expansion and scale are not conceivable in such leadership environments. Growth and expansion should not appear as an imposition on employees; they should be able to happily take part in it and understand the significance of their roles in the bigger picture.

Rupal Nikhil Agarwal
YourRetailCoach
+91 98604 26700
consult@mindamend.net

Source: YRC Shares Expert Insights on How People Strategy Drives Retail Growth and Expansion