The C Word: Compensation in Specialty Retail

We have the key to passionate, knowledgeable, dedicated employees: decent compensation, and 40 hours of it. Kent and Dan outline the detrimental effects of minimum wage on the specialty retail industry, advocate for a change in payroll structure, and even talk about the other C word: commission.

Comments (6)

I’d like to learn more about your commission compensation.

We have an episode on commission compensation coming up, Ben! In the meantime, you could email Dan as part of the End of the Podcast Club with your questions—that’s dmann@manngroup.net.

Thanks again for another great episode. Owners, managers and decision makers in Specialty Retail need to look at the equation differently. What does an employee need to do to make more. Hold that carrot out in front of them and give them the training and leadership to accomplish it. Doers will do. Those that won’t do will go away.

Well said, Chad! Thanks for listening.

This was very informative and motivating. IBDs can be creative and compensating in their pay to great and motivated employees. It seams distributors treat their retailers in a way just like an hourly wage, do you think distributors can ever be creative in the same way to amazing retailers? Dan, thanks again for insightful help in our industry.

That’s an interesting comparison! It can be created when retailers have a strong inventory planning strategy; this gives the retailer the advantage in creating a favorable exchange. Look for this topic to show up in upcoming newsletters and podcasts! –Dan

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