Do Your Stores See Their Part In Your Budgeting?
Every store in a retail chain is a link that connects the business to the profit that is available. A weak link in that chain affects the entire enterprise because a chain is, as the old saying goes, only as strong as its weakest link. But a store is a lot more complicated than a metal link in a chain because the attitudes of the people at the store affect how well that store operates. Showing them their part in your budget today is one way to get them on board. Showing them an achievable goal for their part in the future is also inspiring.
Show Them Their Part In Today’s Enterprise
People need to know that the work they do contributes to success and that their contributions are valued. ChainDrive’s Store Budgeting has comprehensive security settings that give you control over how much data is visible at your choice of seven different levels. This lets you isolate information to a particular store, a particular time frame, even a particular assistant manager. You can display individual store information on sales, wage, budgets, hours, and much more. You can show a team their overall performance and reward their progress and then you can show them how that fits into the big picture of the entire business if you want to. What is seen and who sees it is controlled by you.
Show Them Their Part In Tomorrow’s Vision
Key Performance Indicators are important because they give staff a concrete target to aim for. But those KPIs have to be achievable or the result will be discouragement and the goal will not be reached. KPIs also have to be seen in context. Average dollars or units per transaction are not numbers that are reasonably increased without the input of marketing, for instance. The sales associate on the floor is only one factor in the sales funnel and pragmatic managers take that into account when looking at how much an employee has sold. Set the goal too low and there is no reason to try harder, but setting the goal too high means it will not be reached.
ChainDrive Store Budgeting gives you the tools to analyze your entire enterprise and see how the individual stores fit into your plans. You can give each store’s team a vision of how they fit into your business today and encourage them by giving them a vision for how their efforts fit into the future.