Reward Management in Retail Sector
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Transcript of Reward Management in Retail Sector
REWARD MANAGEMENT OFRPG SPENCER’S & SHOPPER’S STOP
Presented by:
REWARD MANAGEMENT IN RETAIL SECTOR
Joyeeta SarkarKiran Thakur
Nabeela KhaledNahid Anjum
• An overview of the Indian Retail Sector• Reward Management at Shoppers Stop• Reward Management at Spencers
AGENDA
AN OVERVIEW OF THE INDIAN RETAIL INDUSTRY
• Fifth largest global retail destination
• About 95% is the unorganised sector
• But organised sector or modern trade is fast catching up.
• Contributing about 10% of the country’s GDP and 8% of the employment
• Top 5 companies constitute about 2% of the retail sector
• More than 80% of the retail sector is located in big cities
REWARD MANAGEMENT AT SHOPPERS STOP
“JO JEETA WOHI SIKANDER”
“UBHARTA SITARA”
“BEST GROOMED EMPLOYEE”
“BEST CUSTOMER CARE ASSOCIATE”
STRATEGIES ADOPTED BY SHOPPERS STOP
OBJECTIVETo promote a performance drivenculture across all functions
ELIGIBILITY Employees across all functions.
FREQUENCY Held on a Quarterly basis
“JO JEETA WOHI SIKANDER”
The reward scheme aims at motivating employees to perform regardless of the function they are associated with.It aims at inculcating a performance driven culture at Shoppers, which does not limit itself to just the store operations, but also across other departments.Various parameters are set across different levels. Below explained is the performance matrix for Jo JEETA WOHI SIKANDER at the store level for Customer ServiceAssociates/Front line staff.
“JO JEETA WOHI SIKANDER”
Parameters Benchmark Weightages Actual Score
Weighted Score
First citizen enrollment
20 Nos 25 15 18.75
Know your big customer
20 Nos 25 18 22.5
Customer feedback forms
10 Nos 10 10 10
Attendance 5 Nos 20 1 4
Sales Target
5 Nos 20 2 8
Product Knowledge(Test score
60 100 46 63.25
PERFORMANCEMATRIX FOR “JO JEETA WOHI SIKANDER”
Based on the above parameters, the Customer Service associates at every division are marked. This Report card in given 70% weightage & 30% weightage is given forbehavior of employee. The immediate supervisor the employee is reporting to gives thisrating. The parameter weightages may vary from store to store depending upon the square feet area and the business levels. The employee earning the highest points from eachdivision is declared as the “Jo Jeeta Wohi Sikander” for that particular department.The JJWS award is given separately for each store, in the quarterly meets held. The winning employee receives a cash award and a badge.
STRATEGIES ADOPTED
OBJECTIVETo encourage growth and talentdevelopment amongst employees
ELIGIBILITYAll new joinees at store level
FREQUENCYHeld on a Quarterly basis
“UBHARTA SITARA”
Once the induction process is over the new joinees undergo, periodic tests & assessments.
The tests are held on a span of 3-4 months.
The first test is a written test, the questions the new joinees on induction learning’s, store formats, merchandising, basics of visual merchandising etc.
There are four stages in all.
On successful completition, the employee is awarded “Ubharta Sitara”
SELECTION PROCESS FOR “UBHARTA SITARA’
OBJECTIVETo encourage dressing etiquettes namongst front line employees.
ELIGIBILITY All front line employees at storelevel
FREQUENCY Held on a monthly basis
“BEST GROOMED EMPLOYEE ”
All the employees are evaluated on their dressing sense, attire, cleanliness and hygiene while at workEmployees are evaluted by officer whom they are reporting toThe scores for the entire department are collated and passed on to the storeHr.
The Store Hr officer along with the stores manager take a joint decision based on the scores to award the best groomed employee of the month.The winning employee is awarded a gift voucher
PROCESS…
OBJECTIVETo increase efficiency amongstfront line employees
ELIGIBILITY All front line employees at storelevel
FREQUENCY Held on a quarterly basis
“BEST CUSTOMER CARE ASSOCIATE”
Attendance
Punctuality at work
Dressing Etiquettes
Interaction with customers
Customer Feedback forms
The best customer care associate is awarded a cash reward, badgea certificate during the quarterly zonal meet.
PARAMETERS
REWARD MANAGEMENT AT SPENCERS
RPG SPENCERS
Reward & Recognition Strategies:-Best Store Award
Best Customer Service Associate Award
Best Cashier Award
Best Category Award
Honesty Award
REWARD & RECOGNITION STRATEGIES:-
Best Store AwardObjective: To promote intra- store competition
and in effect further sales.
Eligibility: All store employees
Frequency: Held on an annual basis
Parameters for selection are:Achievement of set store targets for the year
Shrinkage achieved
Visual Merchandising
Sales growth achieved (month and month)
REWARD & RECOGNITION STRATEGIES:-
Best Customer Service Associate Award
Objective: To enhance customer delight
Eligibility: All front line store employees
Frequency: Held on a quarterly basis
Parameters for selection:Grooming standards
Attendance
Customer Service
Customer Feedback
REWARD & RECOGNITION STRATEGIES:-
Best Cashier AwardObjective: To enhance selling at cash points
Eligibility: Employees working at cashiers
Frequency: Held on a quarterly basis
Parameters for selectionCash Shortage
Day begin-Day end
Number of bills
Zero billing Error
REWARD & RECOGNITION STRATEGIES:-
Best Category AwardObjective: To enhance inter category competition &
teamwork
Eligibility: All employees working in that category
Frequency: Held on a quarterly basis
ParametersVisual Display
Category sales
Category Shrinkage
Category margin
REWARD & RECOGNITION STRATEGIES:-
Honesty AwardObjective: To encourage honesty & integrity
among employees
Eligibility: All front line employees
Frequency: Held on a quarterly basis
Parameters:Based on comments received by customers on
user feedback forms & special nominations by peers