WalMart: Not Just Rolling Back Prices But Rolling Out Training!
We tend to think about Walmart as a retail behemoth that’s mastered the art of cost cutting. But a recent story in The New York Times highlights a cultural shift at the retail giant, which is now embracing higher pay and better employee training programs in an effort to regain its competitive edge. Here’s what the Walmart story can teach us about training.
According to The New York Times story, Walmart managers felt the need to revamp and formalize training programs because “training is impromptu, and chains have tended to view their hourly workers as interchangeable cogs rather than resources worth investing in.”
Employees Want Better Training
Too often, we tend to look at training as a prerequisite. The trouble with that approach is that it minimizes the value of training for the learner. At its best, training can be transformational – it’s about giving the learner an opportunity to master the knowledge, skills, and confidence they need to achieve their goals. A focus on training is a genuine statement to the employees about their value to the company and the company’s commitment to them.Roblox HackBigo Live Beans HackYUGIOH DUEL LINKS HACKPokemon Duel HackRoblox HackPixel Gun 3d HackGrowtopia HackClash Royale Hackmy cafe recipes stories hackMobile Legends HackMobile Strike Hack
According to The New York Times story, Walmart managers felt the need to revamp and formalize training programs because “training is impromptu, and chains have tended to view their hourly workers as interchangeable cogs rather than resources worth investing in.” Currently, Walmart is in the process of setting up 200 training academies around the country to train entry-level employees who are interested in making the leap to a career with the company.
Training Is One Part Of A Larger Investment
Training is vital to all organizations, but training is only one piece of the puzzle. Higher wages, better opportunities, and a respectful approach to operations all contribute to getting greater value from employees. Here’s how Judith McKenna, who became chief operating officer of Walmart in late 2014, put it.
“We realized quickly that wages are only one part of it, that what also matters are the schedules we give people, the hours that they work, the training we give them, the opportunities you provide them,” said McKenna. “What you’ve got to do is not just fix one part, but get all of these things moving together.”
The Benefits Of Training Can And Should Be Measured
Sam Walton, the founder of Walmart, believed that a successful retail business required two things: low prices and great service. Not surprisingly, half of Walton’s 10 Rules for Building a Business speak to management’s relationship with employees, a group Walton called partners.
But Walmart lost its way at some point. The company’s customer satisfaction had fallen to 16 percent, before rebounding this year to 75 percent, thanks in part to increased investments in training. Of course, that metric doesn’t exist in a vacuum. Poor customers service resulted in a drop in sales, and a rebound in customer service has come with a corresponding increase in sales. Put all of this together and it’s possible to draw a line between a company’s training investments, qualitative measures like customer satisfaction, and business goals like sales. In other words, training counts toward a company’s bottom line, and we have the data to prove it.