What Retailers Want From Workforce Management
A recent survey conducted by Retail Systems Research and sponsored by Kronos found that retailers’ top hiring and managing challenges include:
Attracting and retaining a quality work force: Increasingly, retailers are turning to advanced talent-management technology to hire the best candidates and improve work-force tenure.
Achieving consistent store execution: 59% of respondents stated that over the past three years the amount of work sent to stores by corporate and field management has increased, yet 73% said there is a lack of integration between task and workforce-management systems.
Finding a balance between satisfying employees and satisfying customers: 78% of respondents agreed that over the last three years the role of workforce management has become even more critical to enabling enhanced customer service and driving store productivity.
Transforming sales and labor data into actionable business intelligence: 90% of the respondents considered analytics to be a relatively important component of workforce management, yet analytics solutions are still at a premature adoption stage with only 10% of the respondents having fully deployed labor-analytics tools.
“Retailers need to fix the disconnect between their offerings and customers’ priorities,” said Nikki Baird, managing director of Retail Systems Research. “Such a disparity is a major threat in an age where customer service is valued over price.”
Lampert, the Eli Manning of retail?
HOFFMAN ESTATES, Ill. The New York Giants triumph over the highly favored New England Patriots in the Super Bowl earlier this month, has become an example of coming from the bottom to win it all. Sears Holdings chairman Edward Lampert is one of the latest to use the Giants win, even going as far to compare himself, and the leaders of his company, to quarterback Eli Manning.
The Giants analogy, and Eli Manning comparison, is applied mainly to the company’s Kmart division. In a letter to investors, posted on the Sears Holdings investor relations Web site, Lampert said during Kmart’s bankruptcy in 2002, the unit was “like an undrafted free agent who nobody thought had a chance to play in the big leagues.” Lampert went on to say, “Like Eli Manning, we know what it’s like to be underestimated and questioned, but we intend to keep working on our game to achieve our full potential.”
Sears Holdings reported net income of $426 million, or $3.17 per diluted share, for the fourth quarter ended Feb. 2, compared with net income of $811 million, or $5.27 per diluted share, for the fourth quarter ended Feb. 3, 2007. For the fiscal year ended Feb. 2, 2008, net income was $826 million, or $5.70 per diluted share compared with net income of $1.5 billion, or $9.58 per diluted share, for the fiscal year ended Feb. 3, 2007.
Circuit City investor seeks to replace board
RICHMOND, Va. Circuit City Stores today acknowledged that it has received two proposals from shareholder Wattles Capital Management regarding its board of directors. Wattles holds approximately 6.5% of the outstanding shares of the company’s common stock.
Circuit City reported that Wattles proposed the idea of replacing the company’s Circuit City 12-member board of directors with its own nominees. Circuit City said its board of directors will review carefully the shareholder’s proposals and the qualifications of the nominees in accordance with its fiduciary duties, mindful that the proposal would give the shareholder absolute control of the entire board, which would be disproportionate to its relative ownership of the company’s shares.