Company profile Pantaloon Retail (India) Limited, is India’s leading retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. Headquartered in Mumbai (Bombay), the company operates over 12 million square feet of retail space, has over 1000 stores across 71 cities in India and employs over 30,000 people.
The company’s leading formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a uniquely Indian hypermarket chain, Food Bazaar, a supermarket chain, blends the look, touch and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality and Central, a chain of seamless destination malls. Some of its other formats include Brand Factory, Blue Sky, all, Top 10 and Star and Sitara. The company also operates an online portal, futurebazaar. com. Future Value Retail Limited is a wholly owned subsidiary of Pantaloon Retail (India) Limited.
This entity has been created keeping in mind the growth and the current size of the company’s value retail business, led by its format divisions, Big Bazaar and Food Bazaar. The company operates 120 Big Bazaar stores, 170 Food Bazaar stores, among other formats, in over 70 cities across the country, covering an operational retail space of over 6 million square feet. As a focussed entity driving the growth of the group’s value retail business, Future Value Retail Limited will continue to deliver more value to its customers, supply partners, stakeholders and communities across the country and shape the growth of modern retail in India.
Pantaloon Retail was recently awarded the International Retailer of the Year 2007 by the US-based National Retail Federation (NRF) and the Emerging Market Retailer of the Year 2007 at the World Retail Congress held in Barcelona. Pantaloon Retail is the flagship company of Future Group, a business group catering to the entire Indian consumption space. Employee Motivation Strategies Their Culture: Passion for Retail is why they are here. At Pantaloon Retail, Empowerment is what you acquire and Freedom at Work is what you get. They believe their most valuable assets are their People.
Young in spirit, adventurous in action, with an average age of 27 years, their skilled & qualified professionals work in an environment where change is the only constant. Powered by the desire to create path-breaking practices and held together by values, work in this people intensive industry is driven by softer issues. In their world, making a difference to Customers’ lives is a Passion and performance is the key that makes it possible. Out of the Box thinking has become a way of life at Pantaloon Retail and living with the change, a habit. Leadership is a value that is followed by one and all at Pantaloon Retail.
Leadership is the quality that motivates them to never stop learning, stretching to reach the next challenge, knowing that they will be rewarded along the way. In the quest of creating an Indian model of retailing, Pantaloon Retail has taken initiatives to launch many retail formats that have come to serve as a benchmark in the industry. Believing in leadership has given them the optimism to change and be successful at it. They do not predict the future, but create it. At Pantaloon Retail you will get an opportunity to handle multiple responsibilities, and therein, the grooming to play a larger role in the future.
Work is a unique mix of preserving their core Indian values and yet providing customers with a service, on par with international standards. At Pantaloon you will work with some of the brightest people from different spheres of industry. They believe it’s a place where you can live your dreams and pursue a career that reflects your skills and passions. Pantaloon Retail follows a team incentive model, and its employees are able to increase their salaries by 30 per cent to 40 per cent. It has a much lower annual attrition rate of 8. 36 per cent for its 14,000 plus front-line staff.
Pantaloon Retail credits it to the “emotional connect” that it has with its employees. “Besides the five week product and operations related training that the staff has to go through, we make our new employees go through a Gurukul process. This is a self-discovery programme emphasizing on employees’ eating habits, hygiene, interpersonal skills, teamwork and building interaction with the other gender,” said Sanjay Jog, head-human resources, Pantaloon Retail. Employee Engagement Activities: ; To ensure High Employee Satisfaction Index through conducting various employee Programmes like arties, birthday & anniversary celebrations, sports, etc. ; To reward and recognize the performers for further motivation in the team. ; Training & Development: To provide the Induction Training to all new joiners at different levels, to identify Training needs of the employees and to Train them accordingly, to develop people for their growth in the organization through different developmental programmes. ; To create an innovative and accountable work environment by recognizing and promoting positive behavior’s that support individual, work group, department, business goals and objectives. . contd. Pantaloons Gift Vouchers: The most important reasons how the company uses these Pantaloons vouchers prove better option for making good reputation in the market are: Encouragement to the employees: These vouchers motivate the employees at e large scale. Pantaloons offer a wide range of Pantaloons vouchers for its employees which encourage them for better understanding in the company which help creating a healthy environment within the company.
Client Gifts: the company also assures that the clients of the company must be given chances to explore many new advantages of the company and its products. This also keeps the clients of the company happy. Celebrations inside the company: Pantaloons vouchers offer good beneficial features while there are any kinds of events being celebrated inside the company. This enhances the employees and company relations. The employees are not given gifts; rather they are given open way to make choice by these vouchers.
Giving incentives: Pantaloons vouchers offer gift for the sales force also. This enhances the relationship amongst the workers and the company. It keeps assuring them that the company is concerned about them all time. Conclusion Suggestions regarding improving motivation level of employees: The key to an effective workplace employee motivation strategy is to provide a range of incentives that will appeal to different personalities. While one individual may be highly money motivated another may find job satisfaction or creative opportunities are more powerful factors. The employee is always right’ These employee motivation strategies involve improving levels of trust between the leadership of your company and staff: 1. Find the right job for the right person. When people enjoy and are challenged by their work they become self-motivated. 2. Empower employees. Trust employees to make their own decisions and make their own mistakes. 3. Co-operation vs. Competition. Excessive competition destroys morale. When teams work towards a shared goal they become more motivated. 4. Involve employees in company development.
Keep employees informed on new developments in the organization and how their work impacts the company. 5. Create a comfortable working environment. Including relaxing the dress code where appropriate, developing areas for socializing, creative thinking, reading and giving employees quality spaces to work in (larger desks, quiet, natural lighting etc. ) 6. Praise in public, correct in private. At first they may be embarrassed by the public recognition of their achievement; but they’ll get over it and glow on the inside. Equally, never undermine in public. Save those conversations for a safe, confidential environment.