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RMG 200 Chapter Notes -Full-Time Equivalent, Human Resource Management, Strategic Management


Department
Retail Management
Course Code
RMG 200
Professor
Brent Barr

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Ch 13: Human Resource Management and Staff Training Issues
Retailers achieve their financial objectives by effectively managing their five critical assets:
o Employees
o Their locations
o Merchandise inventory
o Stores
o Customers
STORE MANAGEMENT RESPONSOBILITIES
Store managers are responsible for increasing the productivity of three of the retailer’s principal assets:
o Firm’s investments in its employees
o Inventory
o Real estate
Costs that store managers must control:
o Scheduling labour
o Operating and maintain their buildings
o Theft
Steps in employee management process that affect store employee’s productivity:
1. Recruit and select employees
2. Socialize and train new employees
3. Motivate and manage employees to achieve store performance goals
4. Evaluate employee performance and provide feedback
5. Compensate and reward employees
Management: a strategic approach of an organization to achieve its objectives by developing policies and plans
for allocating resources
Leadership: the process by which a person attempts to influence another to accomplish some goal or goals
Coaching: the activity of supporting people to achieve their goals by goal setting, training, advising,
encouraging, and rewarding their successes
GAINING COMPETITIVE ADVANTAGE THROUGH HUMAN RESOURCE MANAGEMENT
Human resource management can be the basis of sustainable competitive advantage for three reasons:
o Labour costs account for significant percentage of retailer’s total expenses. Thus, effective management
of employees can produce a cost advantage
o Experience that most customers have with a retailer is determined by the activities of employees who
select merchandise, provide information and assistance, and stock displays and shelves
o Potential advantage, such as exceptional service, are difficult for competitors to duplicate
Objectives of Human Resource Management
Goal is to align capabilities and behaviours of employees with short term and long term goals of retail firm
productivity of human resources management can be measured in number of ways:
Average sale per
transaction
A measure that evaluate productivity by looking at the
number of transactions processed per store or
department and average dollar sale per transaction
Gross sales/number of transactions
Sales per
employee hour
A common measure of productivity that retailers use
by dividing net sales by the total number hours
worked by the employee or employees during the
Net sales/ Number of employee
work hours
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