Single Store Owner

JUN 2016

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JUNE 2016 / singlestoreowner.com / 47 percent pay in the 75th percentile, cited Peters. "Pay is always going to be part of the package that people care about, and we see companies also offering quarterly bonuses, allowing employees to share in the profits, and even food and beverage discounts," she said. When it comes to rewards and bonuses, it should be clear who gets rewarded, how and why, and the expectations should be defined upfront. Employees need to know exactly what they must do to earn bonuses and rewards. This gives every person the chance to not only meet expectations, but also go above and beyond and be rewarded accordingly, ac- cording to Rainmaker Thinking's Tulgan. "When your employees deliver on their commit- ments for you, you deliver on promised rewards for them," he explained. "Ideally, you want to reward people when they deliver results — no sooner, no later. Immediate rewards are most effective because there can be no doubt about the reason for the rewards, providing a greater sense of control and a higher level of reinforcement." Other ways to reward employees could be a manager taking an employee out to coffee each month to give them time and attention outside of the regular day-to-day work. Larger organizations will often do coffee with the CEO or senior manag- ers, Peters noted. Employees can also be recognized each year on their work anniversaries. "At [c-store chain] QuikTrip, full-time employees get a jacket for their first year and part-time employees get it after two years," she said. begin the training process whether it's at the register mirroring a cashier or in a back room watching vid- eos or working through online training materials. "At the end of the day, the owner should sit down with the new hire and find out how the day went for them, what areas they need help with, and any paper- work that needs to get taken care of," McKenna said. When employees feel they are part of a team, and can take pride in their work, they are happier and more likely to stay at a job. This should be set up from day one. Single-store retailers have the abil- ity to devote more time to employees, building trust and creating a family feel, noted Kim Peters, executive vice president of recognition programs at the Great Place to Work Institute in San Francisco. "A great place to work is one where you trust the people you work for, have pride in what you do and enjoy the people you work with," Peters explained. "Small companies have a real advantage in that area because they are smaller and can more easily build customized programs to communicate effectively with their teams. They also have flexibility to set up practices for their people vs. a large chain that has one pro- gram they replicate everywhere." Salary, Benefts & Rewards Offering a competitive salary and other benefits to employees can help single stores attract and retain the right people, and it starts with knowing what competitors in the area are offering — and not just c-store industry companies. "I worked on a project with NACS and we went to 80 retailers and asked if they were hiring and got a job application," McKenna recalled, pointing out that single-store owners can likewise go into a store in plain clothes or send an em- ployee in to inquire. "We asked if they were hiring, how much they paid, what the starting wage is, and the benefits they offer. I suggest single stores do the same, but also go to the local Panera Bread, the local mall and other retailers to see what they are paying and what their benefits are. Then, they should compare that to what they are offering and if they are under the market wage, they need to come up." Every year, Great Place to Work Institute creates a list of the best workplaces in the small to me- dium company category — with small at 99 or less employees and medium up to 1,000 employees. Of these workplaces, 43 percent pay in the 50 to 74 percentile, which is within industry norms, while 14 Single-store owners should not fall into the trap of thinking they are too small to compete or to put the time into human resources and labor.

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