HHIQ_3Q

STORE MANAGEMENT
FLE
BY BILL WILSON, RETAIL ADVISOR, NRHA CANADA
GROWING YOUR BUSINESS
BY INVESTING IN YOUR
MOST IMPORTANT ASSET
What are your plans to grow
your business for the future?
Many businesses plan for
growth, but don’t always
succeed. What are
you missing?
G
rowing your business can be
affected by many areas: the economy,
store size, competition,
marketing, advertising, inventory, housekeeping,
store employees—and most
importantly—the customer experience.
Your most important asset is your
employees. Are you investing in your team?
Do you have a comprehensive training
program, not just one that covers mandatory
courses?
I’ve heard all the excuses: I’m too busy;
training is too expensive; I tried it, no one
participated; I don’t have the financial or
employee resources to spare!
GROWING YOUR EMPLOYEES
But if you don’t train, how do you expect
to grow your employees? You need a plan
for succession, so who will be your next
managers? Some retailers make training a
condition of employment.
Looking to the future, when you want to
slow down or think about retirement, you’ll
need a replacement. You may be looking to
the next generation of your family business,
but you still need to think about leadership
training for them.
Are you not training? It will cost you in
the long run. The time and money you spend
training an employee is a small investment
considering the high cost of not training.
Poorly trained employees provide poor
46 THIRD QUARTER / 2018
Hardlines Home Improvement Quarterly
www.hardlines.ca