“The retention of top talent is probably the single biggest challenge for all retailers”, says Stephen Younane, part of the Michael Page Retail Executive Award judging panel and previous winner of the award.
The talent shortage in Australian retail was already the central theme of our call out for retail heroes, where we encouraged Australian retailers to take greater risks with their high potential managers.
So what can retail executives do to solve this challenge? Here’s Stephen’s take on the question:
- Involve them in problems in opportunities
- Enable them by allowing them to lead projects and take on challenges
- Challenge them by constantly setting the bar high, making them rise to the challenge
- Reward them with promotions and recognition
Learn more from Stephen’s experience in our video Q&A series:
Stephen Younane is the Co-Founder and CEO of Retail Prodigy Group, the Master Franchisee of over 50 Nike Stores across Australia and New Zealand. He was the winner of the 2016 Michael Page Retail Executive Award and impressed the judges for his creation and implementation of the Ultimate Customer Experience across the chain. Stephen and his team have developed a best in class culture, which is all about customer and the results from that investment have been truly impressive.