Highly Successful Retail Managers (HSRMs) believe strongly that all compensation must be based on performance.
Of course, there may be a base wage or salary for a certain position but all commissions, bonuses, spiffs, etc. must be available only to those who perform well; those who advance the cause.
But quite apart from the monetary rewards and general compensation practices within the company, the HSRM does a lot of praising and a lot of rewarding on his own.
Praise is free to give yet incredibly valuable.
HSRMs understand that to praise is to show appreciation and acceptance, build confidence, boost self esteem and make the employee stronger and better at what he does.
In a nutshell, praise is a motivator.
There is a big caution regarding the use of praise as a motivator and show of appreciation – and that is that the praise must be genuine and must address the level of the individual receiving it.
For example, if you praise a seasoned sales associate for a relatively minor accomplishment in sales, the praise would be seen as insincere and the sales associate will be more embarrassed than motivated.
Most of the time, however, praise is a wonderful thing and the HSRM believes in ‘the more, the better’.
His people know that whenever they have done something above and beyond the average, whenever they have achieved something really exceptional, they will be recognized with praise from their manager.
And that praise will not be secret. The HSRM praises in front of others.
He praises at Sales Meetings, and on the sales floor when appropriate, and any other time he can.
Praise works for the HSRM and he is always on top of performance and achievements so that he has a never ending list of people to offer praise to.
Keep notes in your planner/organizer to make sure you don’t miss an opportunity to offer praise to your employees.
Rewards can be non-monetary and still have a strong impact.
The HSRM has a unique way of rewarding employees in a non-monetary way.
Generally, store managers do not have funds to reward performance at store level so they must count on rewards that have a motivating effect, but that are no cost or very low cost.
Here are just a few examples of how a top performer may be rewarded for performance:
- Get first choice of days off
- Pick his favorite shifts
- Not have to perform any undesirable tasks
- Be chosen to train new associates
- Be included in meetings that add to his professional development
- Be asked to speak and share some techniques at a Sales Meeting
- Be asked to assist the Store/District Manager with a project
Rewards for performance count.
If a person is a top performer then he should be receiving wages, bonuses, commissions, etc. that reflect his level of performance.
The HSRM takes advantage of every opportunity to get more and more financial rewards for the top performers.
The HSRM uses non-monetary rewards to add even more reasons for associates to perform well.