2009 – Why the smart companies are hiring quality staff NOW!

It’s hard not to get caught up with the doom and gloom the media keeps portraying, but in terms of your Recruitment and Retention strategy it’s a time of opportunity.

Previous strong sales results and the extreme skills shortage we have all experienced saw companies settle for 2nd best leaving a legacy that drags down the bottom line. With few costs (including salaries) left to cut, the focus has to be on increasing the top line by improving staff quality, ensuring their ability to deliver in today’s market place.  A team consisting of top quartile personnel will always outperform a company that accepts mediocrity.

By interviewing over 700 retail candidates per month our data base includes some outstanding candidates who have achieved success in head office roles such as buying, merchandise planning, marketing and HR, as well as store and multi-site management positions in Melbourne, Sydney and Brisbane.  Now is the best time in years to identify where you need to be stronger, have a look at who else is available,  make a no cost comparison to who you have doing the job now and calculate how the difference between the two effects  the bottom line. Performance Management systems should then highlight the weak links and inform them of your expectations.

A major retailer recently informed us of their ten worst performing areas - those positions perceived as weak links. They wanted to hear about “top quartile” candidates who they could interview and compare to these ten “2nd bests”. Three placements to date have seen a sharp increase in sales, team morale, and enthusiasm as well as a better base for succession planning.

The use of “short term hires” is another cost effective trend that is on the rise.  After the redundancies, there are few left to complete short term projects, often critical to profitability. High calibre “short term hires” that have held senior/executive retail roles can bring expertise to a particular project and add value to the big picture with a consultancy view. Coaching and mentoring in specific areas of need is another upside. This includes traditional areas such as Accounting and IT, but there is also growth in demand for Trak contractors in areas such as Merchandise Planning, Marketing, HR, Learning & Development, Buying, even Retail Operations. 

Retention was the buzz word and will be again once the market starts to turn. Smart organisations are hanging on tightly to the staff they have identified as a must keep. They know competitors are looking for an easy head hunt. Eliminating training and development seems a big saving, but resulting costs include poor morale and increased staff turnover of key staff.

When hiring a new executive today, they must hit the ground running, achieve some quick wins and add real value to the organisation ASAP.  80% of those who leave an organisation within the first 12 months have decided it’s not for them within the first 90 days. Trak Recruiting provides transition coaching during this period to compliment the organisation’s induction program.

It is critical that your key staff consist of the best available. You can’t afford to keep 2nd best. Tough times never last but tough people do. As now is the best time in years to upgrade, talk to us about:

1) Introducing you to top quartile candidates for a no cost comparison to your existing team. We have quality people with Store Management, Buying, Accounting and GM backgrounds.
2) Providing “short term hires” with retail executive backgrounds and a history of success. 
3) Retention! Hang onto key performers, keep them informed about what’s happening and ensure increased effort and success are recognised, celebrated and rewarded.
4) Ensure new staff hit the ground running by re-evaluating induction and transition strategy.
5) Ensure Performance measurement systems are in place and rigorously enforced.