There is no doubt that the change in the retail landscape continues at a dramatic rate, some would even say that the pace of change will never be this slow again. You’ll see from our graphic that we too are embracing change in our 90th year. It’s been well documented the number of retail businesses that are continuing to struggle to adapt and position their businesses for a digital future and change the mindset of their people
The question often emerges as to whether we should invest in our talent in changing times, especially when considering ever dwindling budgets and a need to invest in every resource required to create short term success. There continues to be many tough choices for retail leaders to make, not just with Brexit in the front and back of our minds, we are we reaching something of a crossroads as a generation and indeed as an industry.
These choices continue to be on the minds of all of our customers, internally those that we lead and externally those that we attract. The political situation is forever consuming us as we continue to make stark decisions on our personal consumption, what we eat, what we watch, what we wear and what we share. Social Media and a multitude of platforms make us accessible 24/7, always open, making the need to balance where work ends and homelife starts all the more problematic. Never before have we recognised the impact of these choices and the complexity of modern life on our mental wellbeing, with an ever growing need for a more resilient workforce.
The real question is not should we invest in our talent, but more importantly what is the impact on our industry if we do not? How do we balance short term results with long term success? Sometimes the quickest thing we can do is stop and look around once in a while. We need to continue to prepare our best people to lead us through this change, to make the right decisions and create sustainable business models fit for the future. It is crucial that we set the best conditions for our people to thrive, to create collaborative networks, to learn and lead together. Retailers have long proven that they have the ability to survive, but it is realising the potential in our people that allows us to thrive. For this, investment is essential.
After 20 years on the retail ‘frontline’ I saw first-hand the difference that development can make for your people and your business. It is for that reason that I’m passionate in supporting the next generation of retail leaders to guide our industry through these tough times.
We would love to discuss how we can support your ongoing talent strategy, please do get in contact to explore our leadership development portfolio, which now includes Wellbeing and Digital Transformation integrated into our core Programme offer.
Head of Residential Programmes – OSS Retail