Creative Ways to Attract and Retain Star Performers
Employee retention is critically important for small and medium sized retailers, here’s a quick list of strategies to know.
You’ve hit the big time. You’ve got employees. But how do you go about keeping them? If you lose one, how do you attract other great candidates? In this blog, we’ll explore perks and programs you can offer your gift shop employees to help retain them, without breaking the bank.
How you treat your employees is free. So take a real interest in them as a person by talking to them about their life and goals. Doing so will help them feel valued which, according to America’s Job Exchange is a key to retention. Additionally, you may find your employee has an interest that is mutually beneficial to your company. Perhaps Jane is an expert cake decorator and could create a faux wedding cake centerpiece for your spring window. Or maybe Jeff has experience as a professional organizer and would love to take an afternoon and attack your office. Valuing your employees as people, will aid in retention and can have added benefits for your shop.
Perks can be any number of things from free lunches ala Google, to a $50 bonus for a perfect score from a Mystery Shopper ala QuikTrip. Some ideas of perks you could offer include: free parking in your parking lot during off hours if your shop is located in an area with limited parking, an employee discount or access to your amazon prime account. You may even consider partnering with a complimentary retailer (a bakery or dry cleaner perhaps) and offering reciprocity with regards to employee discounts.
Of course, sometimes it just comes down to pay. And for hourly employees who are working to make ends meet, a small increase or decrease in pay can mean a lot. For you, the difference between retaining a good employee and facing the time and expense of hiring a replacement who may not be as good, a small increase in pay may be an area to explore. This Business Insider article outlines the top hourly wages in the retail industry across companies from $8.60 for a cashier at Panera bread to $13.61 for a sales associate at Bloomingdales. Generally the more specialized knowledge the employee is expected to have, the higher their pay will be.
While strong personal relationships, great perks and fair pay can all help you retain your great employees, sometimes it’s a matter of finding start performers in the first place. If that is the case in your shop, check out our hiring blog for strategies on finding and hiring great people.
Are you offering great perks to your employees? Did getting to know your talent lead to unexpectedly solving a business problem or did a small pay increase help you keep your best sales associate? We’d love to hear about your employee retention success in the comments below.