A policy is a temporary creed liable to be changed, but while it holds good it has got to be pursued with apostolic zeal.
When was the last time you reviewed your store policies? Are they fulfilling what you intended them do to or are they just causing your business some damage? Are your store policies undesirable?
In order to have a sustaining business that consistently grows, there should always be a good balance between revenue, employee, and customer. Store policies should also reflect this paradigm.
Some businesses fail because their store polices don’t have a good balance between the three and would have more emphasis on revenue. Thus, employees and customers tend to be neglected and be unhappy that result to churn for both employees and customers. This is turn, impacts revenue and growth of the business. Some businesses have a solid and balanced set of regulations, but the problem lies when polices are implemented. Either the employees do not really understand them or they don’t know how they should be applied appropriately. Another pitfall is that policies are set as absolute with no “ifs” and no “buts”.
Policies are created to serve as a protocol to guide you and your employees make fair and rational decisions to protect the interest of and benefit the business, employee, and customer. Again, all three components should be equally considered and have a good balance. This will avoid undesirable policies.
No policy should be set in stone except those that have legal implications which should be strictly and consistently implemented. Some situations may require you to “bend some of the rules”. If a situation does not fall in any of your store policies and you need to make a fair and rational decision, are you willing to bend the rule? How far are you willing to bend? You can never have a set of policies that can address every possible situation. You just cannot anticipate every possible situation. It’s just impossible.
Most customers will not bother to ask or look for the store policies until a situation arises and usually these situations would involve unhappy or even irate customers. As a customer yourself, when was the last time you asked about the store policies just because you wanted to know?
“…it is company policy.” This statement is what usually triggers customer to be unhappy, not valued, and complain. How many times have you received a customer complaint because their concern is not covered in your store’s policies? How many of these complaints were NOT due to the customer? Again, as a customer yourself, have you ever experienced hearing this statement and ending up with an unresolved concern? Did you stop shopping in this store and switched to another one?
I’ll ask again, when was the last time you reviewed your store policies? Have you recently done any study or correlation between your store policies, customer satisfaction, or revenue?
Making changes in your store policies will not damage your business as long as it is not done frequently and the decision to the changes is backed up with considerable data from a substantial study and research. If your store policies are not working for you, then it’s time to make changes. Necessary changes can trigger businesses reach their true potential to grow.
RetailWise USA can conduct a rigorous data gathering needed research and study of your store policies and how it impacts your store’s revenue, employee satisfaction, and customer satisfaction. Our reports will consist of vital information that you need to help you recognize which of your store policies are of benefit and which ones needs to be modified or even take out.