Retail Performance Best Practise Now In Reach Of Single Store Operators
In recent years, with the aid of sophisticated information technologies, multi-store retailers have developed a science out of Retail Performance Best Practices by putting into play real-time systems for recording and measuring performance KPIs at all levels of the organisation.
So sophisticated are these systems that they are able to tell employees, even at the operational level, exactly how they are standing up to the companys vision, plans and objectives.
Using balanced scorecards with lead in and lead out Key Performance Indicators, staff at all levels of the organisation can track statistics and glean information that allows them to react in time and perform better.
Performance based measures are important for any retailer whether large or small and serves to communicate the strategy of the business and align employees with the goals of the organization. Managers use performance measures to track staff against benchmarks and targets. Managers are able to identify poor performance areas and react in time to make adjustments in resource and skills. Big companies motivate staff...