Planning Your Future Talent Needs
As a retailer, have you ever found yourself scrambling to fill key roles due to unexpected turnover? It's a common challenge, but one that can be mitigated with proper talent planning.
Imagine you have 300 stores, and your store managers churn at 20% annually. To maintain stability, you need to develop 60 new store managers each year – and maybe think of bringing in fresh perspectives – say allocating about 10 spots for external hires could be a smart move.
To make this happen, you'll need to identify around 70 high-potential deputy store managers and put them through a comprehensive development program. Remember, not everyone will make it to the finish line, so it's crucial to train more than you'll ultimately need.
But the planning doesn't stop there! If your growth strategy includes opening new stores, you'll need to adjust your talent pipeline accordingly. And don't forget to apply this process to other critical roles like buyers, merchandisers, and warehouse managers.
Martec offers free guidance and advice on designing learning paths for retailers and consumer goods companies. Don't hesitate to reach out to me if you need support in creating a comprehensive talent strategy!
Stay tuned for the next post to understand why data is important in talent planning and how to create personalized training plans for your team members!
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Posted by Brian Hume
11th October 2024
