If You're Not Investing in Training, You're Losing the Future
Get training and development implemented before you chase new tech
Every job I ever quit was because I was bored. I either couldn't see a path forward or didn't want the path that was offered.
How many people are you losing because they feel invisible or bored? How many people quit because they're not offered a career path they want?
A lot.
You'll never know because people don't want to burn their bridges to tell you the truth. If you're going to keep people invested, show them you care about their careers as much as they do. Implement training and development at each level so people will stay and score the next promotion.
The retail industry is struggling to find executives and CEOs for key positions.
You don't say.
That's what happens when you cut all your training programs to save money over the past twenty-five years. Now, companies don't know where to find the next person to run the company.
Boo hoo.
I'm sorry, but I am not sympathetic to corporations that cannot play the long game. They want to save money in the short term, and they want their stock prices to go up, so they cut from the frontline again and again.
Oh, look, you made a profit this quarter. Cool, but at what cost? Do you want to develop leaders to run the company in the future, or do you want to bank on Bob holding that CEO job for the next century?
I'm failing to understand how you can run a company but refuse to invest in the people who run it daily for you.
There are now endless solutions to choose from. Retail tech companies that weren't even founded on training and development are now incorporating it into their solutions because there is a high demand for it.
If your company isn't holding training sessions for your leaders three times a year, you need to catch up.
How much is losing talent costing you?
It's a shocking amount, isn't it?
So, turn around and reinvest in your leadership teams.
The job of a store leader is incredibly dynamic, so stop treating it like anyone can do it because that is false.
Stop cutting positions, cutting payroll, and keeping your eye on your stock price only. It's short-sighted. It's how you lose.
The next meeting you have about AI, cancel it. Schedule a new one about training and development. Support your stores and create career paths that lead to multiple places: district manager, home office, or loss prevention roles.
Not every store leader wants to be a district manager; I didn't.
Not every kick-ass salesperson wants to be a manager. So create opportunities for them to thrive in other career paths.
Taking a step like this in your organization is massive, but it's how you play the long game, stay innovative, and create a bench of talent that will eventually replace Bob.
Take time to think about it, strategize, and help your company's future grow.
You can thank me later.
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Based in Southern California, Kit Campoy is a former retail leader turned freelance writer. She covers Retail, Leadership, and Business. Contact her for blog posts, articles, or LinkedIn content.
A super and clear answer to a very old problem. ALL businesses need this but retail is way behind.
Amen! 🙏🏻