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Oracle Modern Best Practice for Retail—Goal Setting to Performance
Goal Setting to Performance
It’s no secret that higher customer satisfaction leads to return visits and bottom-line revenue growth. With Oracle Modern Best Practice, you can use mobile, social, analytics, and cloud to ensure that talent goals are aligned with your retail business objectives. Track the goals and activities that affect the performance of your merchandisers, fulfillment teams, planners, store associates, and sales representatives. Draft, review, and finalize individual goals using private, secure social collaboration. Know which employees want to further their careers with automatic status updates of certifications and education. For example: training in emerging technologies such as machine learning and artificial intelligence (AI). Monitor and analyze accuracy, sales per hour, and other metrics to predict individual and team performance. Proactively address turnover risk by identifying employees with a high risk of leaving as well as the best employees to retain.
Mobile. Analytics. Social.Align Goals and Business Objectives
Define and align associate goals to business objectives (e.g. align sales tactics to revenue objectives with workforce goal of driving awareness of in-store promotion via emailing, calling, contacting customers), including relevant succession plan needs. Review goal progress with dashboards.
Mobile. Social.Draft the Objectives
Review talent profile to cross reference evaluation with any relevant career goals. Employee shares with manager the first draft of objectives for achieving set goals (e.g. learn OTB planning, margin strategy, subscription revenue management).
Mobile. Social.Improve Goal Attainment with Social
Use embedded secure social collaboration to enhance goal processes and increase likelihood of success.
Mobile.
Mobile.Employee Self-Evaluation
Employee conducts self-evaluation to measure performance on goals and competencies. Update talent profile with competency and career goal changes.
Mobile. Social. Big Data.Request Colleague Feedback
Employee identifies and asks relevant co-workers and colleagues (e.g. store operations managers, distribution teams) to provide feedback on individual performance.
Mobile. Social.Evaluate Employee Performance
Review feedback from others, perform a fit/gap analysis on relevant pre-defined competencies, and update evaluation, validating attainment. Provide frequent performance, finalize evaluation and update career plan.
Mobile. Analytics. AI/ML.Predict Worker and Team Performance
Predict voluntary turnover and performance (e.g. looking at sales per hour and accuracy), and determine which recommended pre-emptory actions to take (e.g. determine associates to retain or temporary associates to transition to regular positions).