Human Capital Management
Retailers face unique challenges because they depend fundamentally on people. Individual productivity is key to generating value for an organization. In an increasingly competitive and globalized labor market, successful organizations are recognizing the benefits—for both the business and their employees—of ensuring employees are engaged, aligned, inspired, accountable, and above all, productive.
Decentralization poses an additional test for retailers trying to cultivate this type of employee culture, and ensuring consistency and accuracy across all stores and business units can be difficult. New strategies and solutions must be devised to confront these challenges.
Employees are primary contributors to realizing excellence and success in any organization, and retail is certainly no exception. Performance management is an effective tool for guiding and assessing the contribution of employees. But the critical question is how retailers can implement performance-management processes in their organizations, allowing entrepreneurial spirits to develop and thrive. Moreover, how can retailers develop, mentor, and coach employees—and retain them?
HR must reassert itself as a core function of the retail organization, and enhance organizations’ profitability. The central issues, strategies, and solutions in HCM will be covered by Global Retail Management (GRM) this 2009, and include:
- Biometrics
- Performance management
- Recruitment
- Resource management
- Talent management
- Scheduling / time & attendance
- Training
- Workforce management