Organizational Success in #Retail: What You Need To Know
The amazing team at DDI recently published their Leadership Development Road Map and some of the statistics were pretty shocking and critical to know if we are going to effect change in 2016 in our businesses. You can click on the link above to view the interactive infographic (which is very clever and a great read) but here are some of the highlights that immediately resulted in my brain working through a plan-of-action on how to elevate our current and future leader’s competencies:
Are Leaders Ready To Deliver?
What Business Challenges Are Keeping CEO’s Up At Night?
Who Do Leaders Say Is Not Involved Enough In Their Development
What Happens When Organizations Get Leadership Development Right?
Interacting vs. Managing
“Leaders currently spend 41% of their time managing, but if given the choice, leaders would nearly double the time they spend interacting and cut in half the time spent managing. And that shift would serve organizations well.”
Organizations That Value Interacting Benefit More
The Behavioral Benefits of Leaders Interacting vs. Managing
Interestingly, in Retail we have a very high quantity of future leaders who are “eager and waiting impatiently” who are strong but need continued development on their competencies. Ours is highly competitive industry and pretty soon, if leaders are unable to have a significant impact on their business through improving revenue and employee productivity, there are other “eager” candidates ready, willing, can capable to deliver results.
The DDI team also explains this very interesting concept of Developing Leaders To Working Within to the VUCA Vortex:
…all of these concerns (and realities of the business) need innovative and courageous leaders who can react and come up with solutions to these very common Retail Industry challenges and obstacles. Here are some questions to ask:
-Are we encouraging our team members to take risks and try new things in their business?
In Retail, especially the in the field leadership organization, we are relegated to managing. Managing minutiae, managing hiring, managing HR compliance standards, managing conflict, managing store visit forms, managing schedules, managing visual compliance, etc.. There is not a healthy, or adequate, amount of “interactive” time available because we are busy ensuring we are compliant with what our bosses, HR, and executives want/need.
In early 2015 we transitioned a few of our normal procedures, in my current business, for more engaging and interactive processes. Here are some examples:
Annual Performance Reviews
Company Vision & Values
We also updated our:
The one statistic in this report that is surprising and (truth be told) confusing to me is that “48% of leaders say ‘Human Resources’ is not involved enough in their development”. Perhaps it is specific to our retail industry but HR has never been an active or encouraging participant in training or development. In my experience HR is a compliance role and one that is mostly accountable for ensuring that the company is up-to-date and in compliance with State and Federal Law, employee paperwork, dealing with conflict in accordance with laws to mitigate escalation of internal issues. They are not, generally, interested participants in training and development outside of being in compliance with topics such as; sexual harassment training, new hire document training, explaining and reissuing employment applications to be in compliance with “ban the box”, etc.. HR has never been a great business partner for growth planning, upskilling talent, or future planning, in my experience.
Retail organizations that expect to survive the changing landscape need senior leaders dedicated and focused on training and development and that role cannot reside in HR – it needs to be an employee support role and most people (as you can see above) do not believe HR supports them. Creating a Director of Training & Development role in the business and ensuring that the person in that role is flexible, adaptable, innovative, creative, interactive, and committed to the growth and future road-mapping of their leaders will benefit an organization greatly and it can help fix many, if not all, of the concerns that the executives have that keep them up at night.