Category: Culture

Artful Idea for Retention Bonus

8/8/2022

When asked "How many people work for you these days?", one owner we know responded, "Oh, about half of them."

Hopefully you don't share that same lament.

But, most retailers know all too well the challenges and high costs of competing for talented employees.

And, keeping staff – versus dealing with constant turnover – is even more important. Especially to your bottom line.

So we were intrigued by this report in CNN Travel*:

Germany's Ruby Hotels, which has 16 properties across Europe, is offering new recruits up to €500 ($511) to get a new tattoo, piercing or haircut once they reach six months of employment.

Be Ready – New Kind of 4th of July Is Coming

6/13/2022

We think this may be a very different 4th of July Holiday weekend.

It will not be just about red, white & blue window displays, or flag waving, or fireworks displays. Instead, there is a new mood, a new attitude that is emerging.

First, we believe that all shoppers are reeling from being swamped by some major and concurrent attention-grabbing events and trends affecting all of us. Seemingly with no end in sight.

It's Not Just the Clocks That Changed...

3/28/2022

"Retail is a mirror of society."

Yes, Daylight Savings began a couple weeks ago. But it's not just the time on the clocks that changed; the times themselves have substantially changed.

Followers of The ROI has heard us assert many times that "Retail is a mirror of society." As we reflect on the first quarter of 2022, we are struck by how much has changed in just those three months. And retailers must adapt – yes, again! – to this rapidly changing environment.

Think about it. Consider the assumptions you made just a few months ago, in late December and early January about 2022.

Send a Love Note – To Your Customers!

2/7/2022

Just one week until Valentine's Day! Are you feeling the love yet?

Tumult, rancor and uncertainty abound in the day's news.
Big storms are pounding large areas.
The pandemic is lingering.

What better time to send a love note to your customers?

That's right. A Valentine. Just a Valentine. No strings attached! Show your love!

Not the Time to Dawdle

1/24/2022

Heads up. You can take a grim situation and turn it into an advantage.

Universally, there is a shortage of "good employees." While many will use that as an excuse, it can be a great opportunity for those who seize it.

That's why we paid particular attention to this commentary by Ty West in The Playbook*.

"Businesses across a range of industries are struggling with both recruitment and retention, yet surveys and experts continue to show many are unwilling to change their strategies to improve their ability to compete."

And therein lies the opportunity.

Time for New Answers to Old Questions

1/10/2022

See the forest, not just the trees
Now that we've put a wrap on 2021, and before we really dive into 2022, it's time to catch your breath and reflect on where we are after 2021.

Perhaps like us you believe that fundamental and enduring changes have occurred; no one can operate on "auto-pilot" anymore. All of us have to learn new processes, and form new habits. What's it called? Oh yes; "embracing change." Lots of it.

That's why it is a very opportune time, particularly for owners, to have a very active Q&A session with themselves.

Find the Reasons to Celebrate

12/27/2021

As we get ready for the New Year, and the post-Holiday season slowdown settles in, here's a positive way for retailers to re-energize and re-focus their entire organization, whether one store or even a hundred.

We learned this from one of our clients with nearly 50 stores widely scattered over 6 states. Each day, without fail, they would take time for what they called the "Corporate Cheer."

You will see how it can be a fun addition to any retail business, no matter the size.

A Dynamic New Era of Start-Ups

11/15/2021

We are entering an exceptionally exciting time for retailing.

Nationwide, the U.S. is experiencing an entrepreneurial surge not seen since the tech boom of the 1990s, said Kenan Fikri, research director for the Economic Innovation Group in Washington, D.C.

According to an analysis of Census data by EIG, "Through September, Americans have filed a record 1.4 million applications to start new businesses – the most through the third quarter of any year on record."*

Experts suggest it’s being fueled by rising household wealth and shifting life priorities, after millions of Americans were tossed from their jobs during the pandemic.

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