"Our people are our most important asset.” How many times have you heard that proud statement from a company executive? Unfortunately, many companies do not seek feedback from their employees on a regular basis.

In this competitive retail environment, leading companies understand how to be the employer of choice. It is not by chance that these companies are known for their loyal, high-performing, and customer-focused employees. These retailers listen to the needs of their internal customers just as carefully as they listen to their external ones. Then they respond to employee feedback by making human resources and operational adjustments that motivate and enable their front-line employees to provide outstanding customer service.

A great deal of research has been done to estimate the cost of employee turnover at a retail company. By even the most conservative estimate, the cost of losing and replacing a single employee is far greater than the cost to conduct an employee survey at his or her store. A well-designed survey process may very well identify and rectify the reason that he (and likely others) would leave and go work at a competitor’s store. The process of seeking and responding to employee feedback provides your company with a strong competitive advantage over the retail employer next door.

Why should you have an employee survey and feedback process?

	To give employees a regular, formal vehicle to provide feedback about their job, their supervisor, and the company
	To quantify the “soft” concept of employee morale and the areas that affect employee satisfaction
	To understand the key morale differences among stores, departments, and employee types (full-timers vs. part-timers, new hires vs. long-term employees, etc.)
	To develop managerial skills and ability, and to provide managers with a tool for addressing employee concerns
	To get detailed suggestions for improvement and feedback on how the company can improve its operation
	To benchmark your company’s survey scores against other retailers
	To lower turnover, increase productivity, and improve customer service