Reward Management in Retail Sector

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  • Reward Management in Retail Sector

    1. 1. REWARD MANAGEMENT OF RPG SPENCER’S & SHOPPER’S STOP Presented by:REWARD MANAGEMENT IN RETAIL SECTOR Joyeeta Sarkar Kiran Thakur Nabeela Khaled Nahid Anjum
    2. 2. AGENDA• An overview of the Indian Retail Sector• Reward Management at Shoppers Stop• Reward Management at Spencers
    3. 3. 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
    4. 4. REWARD MANAGEMENT AT SHOPPERS STOP
    5. 5. STRATEGIES ADOPTED BY SHOPPERS STOP “JO JEETA WOHI SIKANDER” “UBHARTA SITARA” “BEST GROOMED EMPLOYEE” “BEST CUSTOMER CARE ASSOCIATE”
    6. 6. “JO JEETA WOHI SIKANDER” To promote a performance drivenOBJECTIVE culture across all functionsELIGIBILITY Employees across all functions.FREQUENCY Held on a Quarterly basis
    7. 7. “JO JEETA WOHI SIKANDER” The reward scheme aims at motivating employees to performregardless of the function they are associated with. It aims at inculcating a performance driven culture atShoppers, which does not limit itself to just the storeoperations, but also across other departments. Various parameters are set across different levels. Belowexplained is the performance matrix for Jo JEETA WOHISIKANDER at the store level for Customer ServiceAssociates/Front line staff.
    8. 8. PERFORMANCE MATRIX FOR “JO JEETA WOHI SIKANDER”Parameters Benchmark Weightages Actual Score Weighted ScoreFirst citizen 20 Nos 25 15 18.75enrollmentKnow your big 20 Nos 25 18 22.5customerCustomer 10 Nos 10 10 10feedback formsAttendance 5 Nos 20 1 4Sales Target 5 Nos 20 2 8Product 60 100 46 63.25Knowledge(Test score
    9. 9. STRATEGIES ADOPTED Based on the above parameters, the Customer Service associates atevery division are marked.This Report card in given 70% weightage & 30% weightage is givenforbehavior of employee. The immediate supervisor the employee is reporting to gives thisrating. The parameter weightages may vary from store to storedepending 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 thatparticular department.The JJWS award is given separately for each store, in the quarterlymeets held.The winning employee receives a cash award and a badge.
    10. 10. “UBHARTA SITARA” To encourage growth and talentOBJECTIVE development amongst employees All new joinees at store levelELIGIBILITY Held on a Quarterly basisFREQUENCY
    11. 11. SELECTION PROCESS FOR “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 oninduction learning’s, store formats, merchandising, basics of visualmerchandising etc.There are four stages in all. On successful completition, the employee is awarded “UbhartaSitara”
    12. 12. “BEST GROOMED EMPLOYEE ” To encourage dressing etiquettes nOBJECTIVE amongst front line employees.ELIGIBILITY All front line employees at store levelFREQUENCY Held on a monthly basis
    13. 13. PROCESS… All the employees are evaluated on their dressing sense, attire,cleanliness and hygiene while at work Employees are evaluted by officer whom they are reporting to The scores for the entire department are collated and passedon to the storeHr. The Store Hr officer along with the stores manager take ajoint decision based on the scores to award the best groomedemployee of the month. The winning employee is awarded a gift voucher
    14. 14. “BEST CUSTOMER CARE ASSOCIATE” To increase efficiency amongstOBJECTIVE front line employeesELIGIBILITY All front line employees at store levelFREQUENCY Held on a quarterly basis
    15. 15. PARAMETERS Attendance Punctuality at work Dressing Etiquettes Interaction with customers Customer Feedback formsThe best customer care associate is awarded a cash reward, badge a certificate during the quarterly zonal meet.
    16. 16. REWARD MANAGEMENT AT SPENCERS
    17. 17. RPG SPENCERS Reward & Recognition Strategies:-Best Store AwardBest Customer Service Associate AwardBest Cashier AwardBest Category AwardHonesty Award
    18. 18. REWARD & RECOGNITION STRATEGIES:- Best Store Award Objective: To promote intra- store competition and in effectfurther 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)
    19. 19. REWARD & RECOGNITION STRATEGIES:-Best Customer Service Associate AwardObjective: To enhance customer delightEligibility: All front line store employeesFrequency: Held on a quarterly basis Parameters for selection:Grooming standardsAttendanceCustomer ServiceCustomer Feedback
    20. 20. REWARD & RECOGNITION STRATEGIES:- Best Cashier AwardObjective: To enhance selling at cash pointsEligibility: Employees working at cashiersFrequency: Held on a quarterly basis Parameters for selectionCash ShortageDay begin-Day endNumber of billsZero billing Error
    21. 21. REWARD & RECOGNITION STRATEGIES:- Best Category AwardObjective: To enhance inter category competition & teamworkEligibility: All employees working in that categoryFrequency: Held on a quarterly basis ParametersVisual DisplayCategory salesCategory ShrinkageCategory margin
    22. 22. REWARD & RECOGNITION STRATEGIES:- Honesty Award Objective: 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 feedbackforms & special nominations by peers

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