Workplace wellbeing means extra edge in the high stakes retail sector where competition is fierce and margins are tight. So, you might want to think again if you’ve always believed achieving peak performance is down to better technology, tighter processes, or stricter management. Because there’s something far more fundamental at play.
Health and wellbeing in the workplace have gone beyond nice-to-haves, emerging as strategic necessities. After all, employees are more engaged, productive, and loyal when they feel valued, supported, and safe. But when they don’t? They underperform, disengage, and eventually leave, taking their untapped potential (and your investment in them) and running for the hills!
So, it’s time to regroup if you’re still viewing workplace wellbeing as an optional perk. On the contrary, a strong employee wellbeing strategy helps keep your staff happy, while directly impacting your bottom line.
And for retail businesses, prioritising wellbeing is more vital than ever where long hours, customer demands, and (alarmingly) increasing levels of workplace violence are a daily reality.
Why Your Staff Might Be Faking Enthusiasm but Internally Panicking
The rise in retail violence on shop floors across the country is frightening. According to recent Sky News article Retail crime: Record levels of theft and violence in our shops, the British Retail Consortium’s (BRC) annual retail crime survey reveals assaults and abuse against retail staff were up a shocking 340% on 2020-21 levels, reaching more than 2,000 incidents per day in the 12 months leading up to April 2024.
That’s a more than 50% increase compared to the previous 12 months, equating to 2,000 incidents every single day!
The BRC’s chief executive Helen Dickinson OBE said: “Retail crime continues to spiral out of control. Retail staff have been spat on, racially abused, and threatened with machetes. Every day that this continues, criminals are getting bolder and more aggressive.”
Her statement further highlights the specific vulnerability of certain groups of retail workers.
And with shoplifting losses increasing to £2.2 billion, up from £1.8 billion the previous year, despite retailers investing £1.8 billion in security, it’s unsurprising any sense of workplace wellbeing can be lacking.
But the unseen cost goes much deeper than revenue.
The Hidden Cost of Neglecting Workplace Wellbeing
Ignoring employee wellbeing is bad for both morale and for business, in terms of:
- Higher staff turnover – Retail staff churn is already sky high. Plus, employees leave even faster when they feel unsupported, taking their knowledge and skills with them. The result? Costly and time-consuming recruitment and / or training up replacements.
- Low engagement – Burnt-out employees don’t go the extra mile. They clock in, do the bare minimum, and count the minutes until they can leave. That’s not a recipe for great customer service or great sales.
- Poor performance – Stress, exhaustion, and anxiety impact decision-making, problem-solving, and teamwork. Your team’s performance will reflect this when they’re running on empty.
- Safety concerns – As we’ve already established, violence and aggression towards retail staff is rife. The daily threat affects staff mental health, productivity, and willingness to stay in the industry, because they’re worried about being unsafe at work.
- Missed revenue opportunities – Sales suffer when shop floor teams aren’t performing at their best, with every disengaged, stressed-out staff member representing lost potential for upselling, brand representation, and great customer experience.
The question is, how can you convert good intentions into strategy, and ultimately, practice?
Close the Retail Performance Gap with Wellbeing
It’s clear workplace wellbeing is key for bridging the gap between potential and performance in 21st century retail. And here are some fundamental ways to put it front and centre?
- Conduct a wellbeing assessment – You need data before you throw money at any random initiatives. The Stress Matters Diagnostics Programme provides the insights you need to make informed decisions, including –
- A full wellbeing assessment for your team
- Personalised self-care reports for every employee
- Business-wide insights into overall workplace wellbeing
- Guidance on measuring ROI to ensure your investment is making a difference
- Address safety to bolster mental wellbeing – The rise in retail violence has elevated a security issue into a wellbeing crisis. So, think about the steps you can take to mitigate risk and boost morale, such as –
- Investment in visible security measures like cameras, trained personnel, and panic buttons.
- De-escalation training to help staff handle volatile customer interactions.
- Mental health resources such as stress management workshops and counselling.
- Regular reward and recognition. Appreciation goes a long way in tough environments.
- Implement a sustainable employee wellbeing strategy – Wellbeing is an ongoing commitment, calling for a structured wellbeing programme that incorporates elements like:
- Quarterly wellbeing assessments to track progress and flag issues early.
- Personalised self-care reports so employees can take charge of their wellbeing.
- Tailored support and resources to meet the specific needs of your workforce.
- Empower managers to lead the charge – Retail managers play a pivotal role in employee wellbeing. Yet many lack the training to provide real support. The Stress Matters Wellbeing Manager Programme equips managers to:
- Spot early signs of stress and burnout.
- Provide meaningful wellbeing support to their teams.
- Use data-driven insights to create a healthier, more productive work environment.
- Make wellbeing part of your employer branding – A strong focus on wellbeing is good for retention, while also making you a more attractive employer. The thing is, today’s workforce wants more than just a pay cheque. They want a workplace that values their health, work-life balance, and personal development. For this purpose, prioritising wellbeing reinforces your employer branding, making it easier to attract and retain top talent.
Ready for Better Team Buy-In?
Now is the time to start if workplace wellbeing isn’t part of your strategy yet.
At Stress Matters, our Diagnostics Programme and Wellbeing Manager Programme help you harness workplace wellbeing to close the gap between employee potential and optimal performance, whether you’re just dipping your toes in or looking to refine an existing approach.
Get in touch today to learn more about our workplace wellbeing solutions. Because when your team thrives, so does your business.
