273: Blending Labour Savings And Service Levels

Dive into the critical balancing act that modern retailers face: achieving labour cost savings while preserving the invaluable human touch in customer experiences. Explore the evolving roles of store staff, the dynamic interplay between automation and personal service, and strategies for streamlining retail processes without losing the essence of human interaction. Join Oliver Banks to explore how to balance the urgent need for cost savings whilst preserving the engaging, human-centric elements in your retail operating model.

Listen to this episode and hear:

• How the role of colleagues and associates is evolving.
• Understand the interplay between automation and maintaining human service.
• Discover ideas and tips to simplify processes while preserving the human touch.
• Why a deep understanding of the operating model is crucial.

 

 

Key takeaways from this episode

1. The retail industry has always been for people, by people. People have always been inherently linked very closely into shopping. However, the current financial climate means it may be necessary to discover cost savings, which are most easily found in the labour budgets. Listen in from 1:01.
2. The evolving role of store colleagues has become more complex over time. But with more complexity and previous cost savings, we’re relying on more multitasking. Listen from 5:04.
3. Technology has provided many opportunities for cost savings, but these may not always be appreciated by customers. Listen to examples of technology solutions which have aimed to deliver labour savings from 8:04.
4. To make labour savings, consider if you could eliminate work (stop tasks or processes or reduce the frequency), simplify work (reducing complexity and error rates) or increase productivity (making it faster to do the work or able to do more at once). Dive into the details from 14:03.
5. The importance of digital tools and technology in redefining retail operations is highlighted, with a focus on areas where human involvement remains essential. Also, consider where there are levels of variability which are harder to automate or systematise. To explore more, be sure to listen from 17:57.
6. With two main watchouts, the impact on colleagues and associates, as well as the long-term growth of the business, is emphasized when implementing cost-saving strategies. Listen from 22:53.
7. And finally, it’s crucially important to understand the operating model. Discover some of the elements to help balance the human touch and cost-saving opportunities by listening to 25:44.

The devil is in the detail, and specifically in your unique detail. Engage in conversation with Oliver about your specific challenges and operating model to explore further.

Talk to Oliver about your cost saving plans

Oliver and OB&Co help retailers accelerate their transformation initiatives whilst successfully navigating disruption. Discover how together, you can align your organisation and propel your transformation initiative forward.

Give your transformation efforts a boost, then Book a Call.

Or connect with Oliver Banks on LinkedIn or by email at oliver.banks@obandco.uk.

Additional listening from the podcast

Discover other episodes of the Retail Transformation Show podcast from the archives. Firstly, cost savings will be a big theme in 2024. Join Oliver Banks to discover the other retail trends for 2024 that you must be aware of. Listen to episode 272: Retail Trends And Themes For 2024.

In episode 265: The Challenges Of Unified Commerce, Oliver is joined by Bain’s Bala Parameshwaran and Aptos’s Nikki Baird, who discuss some of the challenges of unified commerce together.

And finally, check out episode 260: Unlocking Retail Simplification to see how