Managing the Store. CHAPTER 16. Store Management. Store Management. Questions. What are the responsibilities of store managers? How do store managers recruit, select, motivate, train, and evaluate their employees? How do store managers compensate their salespeople?
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Managing the Store
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Undertake Job Analysis
Prepare Job Description
Locate Prospective Employees
Identify essential activities and determine the qualifications of employees
Activities to be performed and performance expectations in quantitative terms
Use employees as talent scouts
Application formsreferences, testing, realistic job preview
Motivating employees to perform up to their potential may be store managers’ most important but also frustrating task
How Easy to Achieve?
Get Participation of Employees in Setting Goals
This Sears manager builds morale and motivates her sales associates by holding “ready meetings” before the store opens.
At this meeting, the manager is discussing
Approaches for improving customer service.
Steve Cole/Getty Images
Pando Hall / Getty Images
Ratings unduly negative
Rating unduly positive
Using the same rating on all aspects of the evaluation
Placing too much weight on recent events rather than evaluating performance over the entire period
Having the evaluation of a salesperson unduly influenced by the evaluation of other salespeople
Making errors in identifying causes of the salesperson’s performance
Costs Controlled by Store Managers
Total shrinkage in the U.S. is estimated at $40.5 billion annually
Shrinkage is the difference between the recorded value of inventory (at retail prices) and the value of the actual inventory (at retail prices) in stores and distribution centers divided by retail sales during the period
Accounting Record – Actual Inventory
$1,500,000 - $1,236,00 = 6.2%
Total inventory shrinkage attributed to employee theft is approximately $19 billion annually in the U.S.