All employees can participate in a bonus program based on sales growth.
North Carolina based Supermarket chain, The Fresh Market, has come up with a plan to motivate it's 12,000-plus employees. They have developed a bonus plan that enables workers to earn more money based on their sales. All employees, including hourly workers, can participate in a bonus program based on sales growth.
As quoted in Supermarket News, Jeffrey Ackerman, EVP and CFO The Fresh Market said “Until this year it was more tenure-based and more of a fixed amount,” but with this new plan in place he says, “if we execute well in the stores, that will help with traffic growth." The chain is also attempting to boost its profile in the digital space with Ackerman pointing out that; “Historically we’ve been very operationally focused and relied on word-of-mouth, but we want to make sure people hear our message and that we’re reaching more people with it."
Rewarding employees in this way is a smart idea for supermarkets. With big retailers like Walmart and Target raising hourly wages, the market is becoming more competitive and it becomes more important for Supermarkets to have incentives. Also, being able to work towards a bonus is an appealing idea for many young employees who may be more in line with using social media the the digital space as a marketing tool, something which Fresh Market is hoping to adopt.
By valuing and rewarding employees and also giving employees the opportunity to grow within the company creates a prosperous work environment which can only benefit the company and the customer.