CASE STUDY

Australian National Retailer increases per store revenue by $30,043/mnth

An iconic Australian national clothing retailer asked Conductor Software to look at their business and identify where they could increase store revenue.

PROBLEM

The retail division was facing flattening sales and margins and struggling to improve store performance which they believed was due to the growing popularity in online sales.

Having tried a number of strategies without success, Management wanted to understand:

•Leadership’s relationship to business and team performance;

•Psychological safety and its link to business performance; and

•Staff wellbeing, safety and resilience levels and how these impacted performance.

SOLUTION

We conducted a Conductor Audit across the retail division and used our Leadership Analytics Software to determine business impacts and identify their untapped financial potential.

• We measured team and leadership psychological safety;

•We invited staff to openly and confidentially express their opinions and suggest improvements; and

• We analysed which business KPIs were most influenced by staff and leadership.

OUTCOME

Team members responded to Conductor’s survey with a (53%) response rate. The results helped the Executive Leadership Team to understand how people, leadership and bottom-line performance were inextricably linked.

Our analysis identified that Sales Conversion Rates were strongly influenced by staff psychological safety.  Our targeted coaching and workshop programs focused on improving leadership and team skills across the network, to develop psychologically safe work environments that supported team performance.

We identified priority teams that showed the greatest potential for overall performance improvement (together, 19.3%) and provided targeted coaching and training to support and up-skill managers to be more approachable, to value staff and express their appreciation.

CONCLUSION

The Conductor Audit highlighted a number of root causes and effects impacting team performance across the store network. Our analysis identified millions of dollars in untapped revenue potential across their network.

We provided immediately actionable insights to address leadership gaps, improve staff psychological safety and drive revenue.  Within 90 days Sales Conversion Rates had increased by 14.3% and our client was achieving additional per store revenue of $30,043 per month. That equated to over $2M per month in additional high margin revenue.

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