This website uses cookies to ensure you have the best experience. Learn more

Employee Turnover In The Retail Industry

3614 words - 15 pages

Employee Turnover in the Retail Industry

MANG 6476.601
Professor Matthew Dean
Fall 2009

Group 5
Erika
Lauren
Belinda
Laney

Table of Contents
Executive Summary i

Introduction 1

Problem Statement 1

The Nature of the Industry 2

Decision Process 3

Conclusion 5

Work Cited A

Executive Summary
Employee turnover is to be kept at a minimum in the retail industry. High turnover results in inconsistent procedures, variability among staff execution styles, and results in high employee costs for the company. In the retail industry, customers build a relationship with specific employees. The customer comes to expect a certain level of service from this specific ...view middle of the document...

The challenge is defining these standards and finding cost effective ways to achieve them.
Employee turnover has a great impact on retail companies. Cohen and Schwarts, authors of “A New Measure, report that retail store employees have on of the highest annual turnover rates at 30.3 out of 100. Further stated is that a company with low employee turnover is traditionally better suited to meet customer needs and allows for employees to build a long term relationship with customers. McCord, author of “The Impact of Basic Skills on Human Resource Management in the Retailing Industry”, performed a survey of retail firms which indicated that finding and retaining qualified employees was the greatest challenge facing human resource departments. A high employee turnover can hurt a company by loss of income due to continuous training of new hires, loss of customers due to inconsistent care ,and lack of teamwork with employees.
The relationships that customers build with employees can vary by store type, gender of both customer and employee, and location. For the purpose of this paper, the focus will be on women’s clothing retail in the mid to high end range.

Problem Statement
In the clothing retail industry, employees are the company representatives directly interacting with the customers. In many retail settings, customers build a relationship with those employees and come to expect a consistent level of service from that company. A high employee turnover can be damaging to the company because of an increase in training cost, decrease in productivity, and change in customer service. Even though the change may be for the better, customers may not stay with the store or “wait out” the training period.
Mid to high end retail outlets traditionally build their business by providing good customer service and developing relationships with the customers. A customer is more likely to return to a store where they made a connection with an employee. As the relationship develops, the customer may value the employee’s opinion on which items to choose that both fit well and keep up with the constant change in fashion. The customer may also come to depend on the employee to let them know when there are new items in the store, when sales are taking place and when special events at the store will occur. All of these needs require a long term relationship and employees that can be counted on the stay at a store. In some situations, it may require team work between employees to make sure all customers have personal service and that their needs are met. This ensures blanket coverage for communication of store events. It is to the benefit of the store to have a reputation of a sales team that is always courteous, helpful, and knows the customers.
When a new employee starts at a company, there is a great cost involved in the training of the employee. There is a learning curve that can include the cost of the training...

Other Essays Like Employee Turnover in the Retail Industry

Jobs in the Funeral Industry Essay

1043 words - 5 pages Types of Jobs in the Funeral Service Industry Rodney Tremont Dallas Institute of Funeral Service English 105 Mrs. Greenberg September 27, 2012 Rodney Tremont English 105 Mrs. Greenberg September 27, 2012 TYPES OF JOBS IN THE FUNERAL INDUSTRY Thesis: Within the Funeral Industry, there are a multitude of jobs. I have chosen four, which I will discuss the qualifications needed for someone thinking of

Slavery In The Chocolate Industry Essay

733 words - 3 pages Slavery in the Chocolate Factory 1. What are the systemic, corporate, and individual ethical issues raised by this case? First of all, this article was interesting to read because it pertains to ethical issues on several levels as we can see throughout and I personally never knew about slavery in the chocolate industry. From a systemic approach, ethical issues arise from the producer or farmers of the cocoa beans to the manufacturer of

Slavery in the Chocolate Industry

597 words - 3 pages Firstly, from the point of systemic ethical issue, economic systems should be taken into consideration. Between 1996 and 2000, cocoa bean prices had declined. The decline was dictated by the global forces over which farmers had no control. With low prices, farmers turned to slavery to try to cut labor cost for their survival in this situation. There is another systemic issue relates to the legal aspect of slavery in the chocolate industry

Jobs In The Music Industry

947 words - 4 pages Jobs In The Music Industry There are lots of different roles within the music industry that makes it run successfully. There are jobs behind the scenes that get overlooked. For example, festivals won’t be festivals without an audience. So the festival organisers have to ask the bands to perform and they have to promote the festival in order for people to buy tickets and turn up. There is more to music than going up on to a stage and playing

Usa Market in Terms of “Consumer Trends” and the Effects of “Competitive Rivalry in the Retail Sectors”

3757 words - 16 pages 1. Profile the U.S. Market in terms of “Consumer Trends” and the effects of “Competitive Rivalry in the retail sectors”. Identify the specific and general driving forces behind these trends. Due to the credit-crunch many commentators point out that the global consumer mindset is tuned to recession-spending.The main point is that US consumers who used to be very materialistic,now tend to spend less money on their purchases.And there are

5 Porter Force in the Beer Industry

4079 words - 17 pages industry sold nearly 206 million barrels of beer in 2009. For major brewers, the volume of ingredients purchased, the large number of farmers available to purchase the ingredients from, low switching costs on the part of the brewer, and inability of the farmers to forward integrate, supplier power in considered low in regard to the major brewers. Craft brewers who purchase fewer ingredients and sometimes more specialized ingredients may cause

Maintain Workplace Safety in the Property Industry

4894 words - 20 pages Maintain workplace safety in the property industry Question 1 Explain in your own words the purpose of the Occupational Health and Safety Act 2000 in New South Wales and other similar Acts in other States and Territories. The Powers of the Health and Safety Representative A health and safety representative has the power to: Identify Workplace Hazards The health and safety representative has the power to identify workplace

Competition in the Golf Equipment Industry 2009

4597 words - 19 pages regard the development of clubs. Ping golf does not have the wide product range of Calloway and TaylorMade Adidas. Ping was an industry leader in the iron segment in 2009. They have no golf ball product. Nike golf does have a wide product line but as yet has not excelled in the sales of equipment. Their products almost never sold at the recommended retail price, unlike their rival companies who tightly controlled retail prices of their products

Art and Commerce in the Filmmaking Industry

606 words - 3 pages Running head: ART AND COMMERCE IN THE FILMMAKING INDUSTRY Name: Course title: Instructors Name: Name of institution: The tension between art and commerce in the filmmaking industry Film making is an expensive affair. It is hence a balancing act of sorts because the cost has to be kept in check without affecting the quality of the film. In the article, this aspect of film making can be said to have been the one that caused a

Government Regulation in the Accounting Industry

2905 words - 12 pages Running Head: GOVERNMENT REGULATION IN THE ACCOUNTING INDUSTRY Government Regulation in the Accounting Industry Rebecca Gregory Kaplan University Outline Introduction Securities Acts of 1933 and 1934 • Brief History of the Securities Act of 1933 • Objectives of the Securities Act of 1933 • Summary of the Securities Act of 1933 • Necessity of the Securities Act of 1934 • Summary of the Securities Act of 1934 • Peat Marwick

Mobile Technology in the Hospitality Industry

3049 words - 13 pages smartphone applications in the hospitality industry and estimate the usage of these kinds of application in the hotel. Then by clearly stating the methodology of the research, the researchers will straightly follow the methodology that been mention. After collecting certain amount of result, the researchers will identify and analysis the results, and finally evaluate the feasibility of this application. At the same time researchers will have an

Related Papers

Widespread Disintermediation In The Retail Industry

2481 words - 10 pages “Many retailers are currently attempting to deliver an integrated multi-channel retail offering to their customers. Observers believe that this will result in the demise of store-based retailing.” Widespread disintermediation in the retail industry: Multi-channel retailing allows retailers to sell merchandise or services through more than one channel. The idea behind multi-channel retailing is it enables retailers to use a combination of

The Sugar Industry In Fiji Essay

559 words - 3 pages The Sugar Industry in Fiji The sugar industry has perceived as the backbone of the Fiji economy. It was started as a colonial strategy to promote economic growth. The sugar industry has become one of the leading industries in the country’s economy over the years. Sugar production was the one of the key export; therefore, sugarcane farming drove the development agenda in Fiji. It contributes 7 percent of gross domestic product and generates 22

The Electronics Industry In India Essay

540 words - 3 pages The Electronics industry is one of the fastest growing industries right from its origin. The profit brought out of this is much more compared to other olden industries. India is one among the largest economies in the world and has a good GDP among emerging economies. The birth and growth of this industry in India is quiet interesting. With large population and the potential consumer demand is almost unlimited and hence a strong growth

Forecasting In The Banking Industry Essay

721 words - 3 pages Forecasting In the Banking Industry Name of the Student: Name of the Institution: Date of Submission: The banking industry operates globally. In every economy, banks are very significant for its growth and development. For the banks to effectively meet their targets and continue operating efficiently, they need to have a good forecast of their targets. In forecasting, there are various variables that are used by the banks. First there is the