In preparation for the 2008 holiday season, Best Buy, the nation’s number one consumer electronics retailer, is employing a unique approach to holiday hiring by having its 1,000-plus U.S. store managers determine how many extra employees each store needs. The company expects to see an approximate 15 percent increase over normal staffing levels per store.
Instead of the traditional retail model of the corporate office mandating hiring levels through blanket policies, Best Buy has asked their local managers to calculate their own needs based on factors specific to their customers, employees and business.
“Because the needs of each Best Buy location can vary considerably, we rely on our managers who understand their businesses to decide what staff levels they need in order to deliver the best possible customer experiences,” said Tim Sheehan, senior vice president of customer experience creation for Best Buy. “By empowering the local teams, we can make smarter and more customer-focused business decisions.”
Complementing Best Buy’s “ground level” seasonal hiring strategy is its outstanding permanent employee retention rate.
“A turnover rate of 47 percent is extraordinary in an industry where it’s not uncommon to have turnover at a rate of 100 percent,” said Sheehan. “This means that Best Buy will have a more experienced staff in place to deliver the best possible shopping experience this holiday season.”
Stores already have begun hiring seasonal employees and will continue through early November. The actual number of additional seasonal staff this year could range from 16,000-20,000 employees. Last year, the company hired approximately 26,000 extra employees for the holiday season. Seasonal employees generally work for the company through mid-January, and they are eligible for the same discount that part- and full-time employees receive. Many employees start their Best Buy careers as seasonal employees; as many as 40 percent of seasonal employees have been hired for part- and full-time positions in past years following their work during the holiday season.
About Best Buy Co., Inc.
With operations in the United States, Canada, Europe, and China, Best Buy is a multinational retailer of technology and entertainment products and services with a commitment to growth and innovation. The Best Buy family of brands and partnerships collectively generates more than $40 billion annual revenue and includes brands such as Best Buy, Audiovisions, The Carphone Warehouse, Future Shop, Geek Squad, Jiangsu Five Star, Magnolia Audio Video, Pacific Sales Kitchen and Bath Centers, The Phone House and Speakeasy. Approximately 165,000 employees apply their talents to help bring the benefits of these brands to life for customers through retail locations, multiple call centers and Web sites, in-home solutions, product delivery and activities in our communities. Community partnership is central to the way we do business at Best Buy. In fiscal 2008, we donated a combined $31.8 million to improve the vitality of the communities where our employees and customers live and work. For more information about Best Buy, visit www.bestbuy.com.
Contacts:
Media Contacts:
Dawn Bryant, 612-291-6119
Dawn.Bryant@bestbuy.com
or
MS&L
Ben
Therrien, 212-468-3057
Benjamin.Therrien@mslpr.com
