Listen Now: Consistency
Retailers are looking to boost their sales, but the key might not be in the consumer.
Recently researchers working with the Gap Corporation conducted a study that pitted control stores against stores that intentionally provided employees with consistent schedules. This meant things such as; requiring schedules to be posted two weeks in advance, guaranteeing a core group of twenty employees a week and setting consistent start and end times for a shift.
The stores that stuck to these rules saw a seven percent increase in store revenue. According to the study, investing $30,000 in labor hours and employees yielded almost $3 million dollars in additional sales. Those stores also saw a decrease in theft, less time spent on scheduling and a more organized stockroom.
Researchers say this goes against the common opinion that organized scheduling is impossible in a busy line of work such as retail. However making a few changes and allowing employees to have a consistent schedule and be able to balance their personal life leads to happier, more productive workers.
And that means a better bottom line for companies.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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