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Tell me about yourself:
To answer this question, you need to keep a few points in mind. Keep the introduction short and describe yourself in 2 to 3 minutes. Do not take more time to summarize the entire CV or resume. Always start with your current role and go in descending order to cover all the points of your career and personal information. This can also be done the other way around, that is, start with your educational background and summarize your work experience up to the current job. Do not learn this by heart and be very clear and concise without it becoming a boring introduction about yourself. Remember, this is your first impression and you need to make a maximum impact.
How do you motivate your employees?
The most important steps to successful employee motivation are to spend time with employees and find out what they need and what motivates them to do a good job. Every employee is different and a general motivation strategy does not work for all employees. Therefore, we need to personally interact with employees and understand them and their interests in the workplace.
Employee motivation can be achieved through regular positive feedback as well as recognition and reward for their work performance. Actively involve employees in decision-making processes and show them confidence in their work. One of the most important motivational factors is financial rewards in the form of gift vouchers or cash.
What steps do you take to ensure the task is completed?
With this question, the interviewer wants to check and evaluate whether you have the right procedures and techniques to review and monitor the team and the tasks they perform.
Always make sure to follow up and check the progress from time to time. Remember, “People only respect when they inspect.” After we inspect the work, the next step is to check the work and confirm whether it is progressing or not. Make sure we get feedback from all employees on the work assigned.
What key performance indicators do you use to develop your strategy?
Key Performance Indicators are measurable values that show how well the company or organization is achieving its key business objectives. We use different KPIs to measure business performance:
Sales per square meter
Average invoice value
Conversion
Average selling price
Inventory turnover
net profit
Units per transaction
Net Promoter Score
Sales and profit
shrinkage
Inventory turnover
All of the above metrics are used to develop a sustainable sales strategy
How do you minimize and manage shrinkage in retail?
Shrinkage is the loss of goods and merchandise in the retail store. It can be caused by customers or internal staff or by incorrect storage and retrieval processes in the store. This shrinkage can be prevented by maintaining proper labeling standards for the merchandise. Label all high-value merchandise and always help customers so that they feel like someone is watching. Customers will give up the thought of stealing if one or the other salesperson is in the department.
Scanning all employees at the exit and maintaining a single entry/exit point for store employees helps reduce shrink. The supply chain manager must ensure that proper entry and exit processes are followed to reduce paper shrink. Paper shrink is shrinkage due to system errors or incorrect entries into the system. High-value items should be counted daily and an inventory register must be maintained to keep track of these high-value goods.
Link to KPIs of retail store managers: https://youtu.be/kgt2Irzm6T8
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