reward management in retail sector

REWARD MANAGEMENT OFRPG SPENCER’S & SHOPPER’S STOP

Presented by:

REWARD MANAGEMENT IN RETAIL SECTOR

Joyeeta SarkarKiran Thakur

Nabeela KhaledNahid Anjum

• An overview of the Indian Retail Sector• Reward Management at Shoppers Stop• Reward Management at Spencers

AGENDA

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

REWARD MANAGEMENT AT SHOPPERS STOP

“JO JEETA WOHI SIKANDER”

“UBHARTA SITARA”

“BEST GROOMED EMPLOYEE”

“BEST CUSTOMER CARE ASSOCIATE”

STRATEGIES ADOPTED BY SHOPPERS STOP

OBJECTIVETo promote a performance drivenculture across all functions

ELIGIBILITY Employees across all functions.

FREQUENCY Held on a Quarterly basis

“JO JEETA WOHI SIKANDER”

The reward scheme aims at motivating employees to perform regardless of the function they are associated with.It aims at inculcating a performance driven culture at Shoppers, which does not limit itself to just the store operations, but also across other departments.Various parameters are set across different levels. Below explained is the performance matrix for Jo JEETA WOHI SIKANDER at the store level for Customer ServiceAssociates/Front line staff.

“JO JEETA WOHI SIKANDER”

Parameters Benchmark Weightages Actual Score

Weighted Score

First citizen enrollment

20 Nos 25 15 18.75

Know your big customer

20 Nos 25 18 22.5

Customer feedback forms

10 Nos 10 10 10

Attendance 5 Nos 20 1 4

Sales Target

5 Nos 20 2 8

Product Knowledge(Test score

60 100 46 63.25

PERFORMANCEMATRIX FOR “JO JEETA WOHI SIKANDER”

Based on the above parameters, the Customer Service associates at every division are marked. This Report card in given 70% weightage & 30% weightage is given forbehavior of employee. The immediate supervisor the employee is reporting to gives thisrating. The parameter weightages may vary from store to store depending 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 that particular department.The JJWS award is given separately for each store, in the quarterly meets held. The winning employee receives a cash award and a badge.

STRATEGIES ADOPTED

OBJECTIVETo encourage growth and talentdevelopment amongst employees

ELIGIBILITYAll new joinees at store level

FREQUENCYHeld on a Quarterly basis

“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 on induction learning’s, store formats, merchandising, basics of visual merchandising etc. 

There are four stages in all.

On successful completition, the employee is awarded “Ubharta Sitara”

SELECTION PROCESS FOR “UBHARTA SITARA’

OBJECTIVETo encourage dressing etiquettes namongst front line employees.

ELIGIBILITY All front line employees at storelevel

FREQUENCY Held on a monthly basis

“BEST GROOMED EMPLOYEE ”

All the employees are evaluated on their dressing sense, attire, cleanliness and hygiene while at workEmployees are evaluted by officer whom they are reporting toThe scores for the entire department are collated and passed on to the storeHr.

The Store Hr officer along with the stores manager take a joint decision based on the scores to award the best groomed employee of the month.The winning employee is awarded a gift voucher

PROCESS…

OBJECTIVETo increase efficiency amongstfront line employees

ELIGIBILITY All front line employees at storelevel

FREQUENCY Held on a quarterly basis

“BEST CUSTOMER CARE ASSOCIATE”

Attendance

Punctuality at work

Dressing Etiquettes

Interaction with customers

Customer Feedback forms

The best customer care associate is awarded a cash reward, badgea certificate during the quarterly zonal meet.

PARAMETERS

REWARD MANAGEMENT AT SPENCERS

RPG SPENCERS

Reward & Recognition Strategies:-Best Store Award

Best Customer Service Associate Award

Best Cashier Award

Best Category Award

Honesty Award

REWARD & RECOGNITION STRATEGIES:-

Best Store AwardObjective: To promote intra- store competition

and in effect further 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)

REWARD & RECOGNITION STRATEGIES:-

Best Customer Service Associate Award

Objective: To enhance customer delight

Eligibility: All front line store employees

Frequency: Held on a quarterly basis

Parameters for selection:Grooming standards

Attendance

Customer Service

Customer Feedback

REWARD & RECOGNITION STRATEGIES:-

Best Cashier AwardObjective: To enhance selling at cash points

Eligibility: Employees working at cashiers

Frequency: Held on a quarterly basis

Parameters for selectionCash Shortage

Day begin-Day end

Number of bills

Zero billing Error

REWARD & RECOGNITION STRATEGIES:-

Best Category AwardObjective: To enhance inter category competition &

teamwork

Eligibility: All employees working in that category

Frequency: Held on a quarterly basis

ParametersVisual Display

Category sales

Category Shrinkage

Category margin

REWARD & RECOGNITION STRATEGIES:-

Honesty AwardObjective: 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 feedback forms & special nominations by peers