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One of the biggest challenges facing the c-store industry is that of employee turnover. According to the 2023 NACS State of the Industry report, turnover for full-time employees at c-stores was around 130%. The turnover rate for part-time employees was even higher, at 152%. This is extremely high, even by retail industry standards. In 2022, turnover for all hourly retail positions was about 76%. Employee retention is on the mind of all retailers, but especially c-store owners. Here are some tips on how to increase employee happiness, ultimately decreasing employee turnover:
Offer Better Benefits
Compensation is the number one reason why an employee chooses to leave their current job for the next. In a survey of 13,085 U.S. employees, 64% said an increase in income is ‘very important’ when they move to a new job. Because compensation is so important to most employees, increasing compensation is a surefire way to increase retention. Experts recommend doing research to ensure wages are competitive, enforcing pay parity to ensure employees at the same level are compensated the same, and taking a comprehensive look at compensation packages that include paid time off or performance-based bonus opportunities.
While direct compensation is the most important employee benefit, it’s not the end of the story. Employees are also looking for a complete benefit package. That means other benefits, such as healthcare, retirement savings, or instant access to wages earned, are factors in an employee’s decision to stay with a company or seek another job. Employers who offer these additional benefits, even to hourly or part-time employees, will decrease turnover rates.
Create A Positive Company Culture
After compensation and benefits, company culture is the most important factor in employee retention. Company culture is many things, from flexibility with hours and days off, to diversity, equity, and inclusion measures, and internal career development.
A company culture that recognizes when employees may need flexibility to accommodate their lives outside of work is key to employee retention. Whether it’s offering flexible working hours or giving employees the ability to take time off when needed, the result is a more positive and productive working environment. Not only does this increase employee retention, it increases the quality of their work and, in a retail environment, the quality of customer service at a store.
42% of employees ranked an organization being “diverse and inclusive of all types of people” as being important to them when they select a job. Employers can showcase their commitment to diversity, equity, and inclusion in their hiring practices, but also by issuing a statement of commitment to diversity, hosting trainings on inclusion, and reporting results of your efforts to employees. Many retail employees believe their jobs offer the opportunity to grow at their current company – 65% to be exact. That number is 5% higher than other industries, meaning retailers have a unique opportunity to retain employees. Offering a path to management positions and other professional development opportunities helps employees feel invested in their jobs and incentivizes them to stay with their employers longer.
Improve Training Methods
According to a study by Paychex, a leading payroll and human resources provider, onboarding and training experiences affect how quickly a new employee will quit after taking a position. Proper employee training not only creates confident and capable employees – it increases their confidence in their employer, helping to ensure retention.
Choosing systems that employees can easily be trained on, such as SmartPOS, are key to ensuring onboarding goes smoothly and quickly. SmartPOS features an easy-to-use touchscreen interface, making it simple and intuitive to train new employees.
Other factors to consider when bolstering employee training include the availability of online, self-guided modules or live training sessions. For instance, Petrosoft offers free access to Petrosoft University, home to the Petrosoft Training Center. Here, managers, cashiers, and store owners alike can follow our training modules in both video and text-based forms to learn the ins and outs of CStoreOffice, our back-office solution specifically designed for c-stores.
Additionally, Petrosoft offers free, remote, live training, with our experts from our offices in Pittsburgh, PA. Trainings are accessible to anyone interested in learning more about creating a price book, lottery reconciliation, invoicing, and more. These training courses occur monthly, so store owners can train new employees and provide a refresher to more tenured employees.
Interested in learning more about Petrosoft? Request a demo with our team today!