In the retail space today, one of the daunting challenges retailers face is the productivity of its employees. “The most challenging task in the retail space today is driving productivity and profit through people and in different ways,” says Vaughn Peterson, CEO at Cambeo. Based in Pleasant Grove, UT, Cambeo tackles the challenges of retail organizations by delivering solutions that leverage the power of people. Cambeo provides solutions to retail companies by enabling executives and managers to make informed decisions through actionable data.
Employees, managers, and executives in the retail market often have a tainted mindset regarding the value that the retail market generates. Customers don’t expect great customer service. Employees don’t look at their job as something they must do well, and management is just trying to get the bare minimum out of their employees. The Cambeo team is moving ahead with its mantra to ‘eradicate the retail mindset’ by providing tools and data that allow employees to shine, managers to actually mentor and executives to know exactly what is happening in their stores down to a single employee. Peterson adds, “We have coined the term ‘retail mindset’ internally. What we want is for customers who come into the market with virtually no expectation to have an outstanding experience.”
Cambeo delivers a productivity suite of solutions that include employee reviews, task management, store evaluations, 360 reviews, and store checklists. Based on the data collected the platform allows companies to benchmark performance, see employee productivity, and analyze the company’s culture and engagement. If there are problems or gaps, the platform also comes with a learning management tool where managers can assign and track training. The real benefit is how all this data fuses with a store’s financial information and with Cambeo’s predictive analytics core.
Cambeo tackles the challenges of retail organizations by delivering solutions that leverage the power of people
Management can obtain a clear picture of how each store is doing from a productivity, financial, and cultural/behavioral view. With the predictive data, Cambeo can also discover other insights, like what tasks actually yield a return. Peterson shared an experience with one of the company’s clients— an established business retailer who, like many retailers, was struggling in a highly disrupted industry. Cambeo’s productivity suite enabled the company to understand which stores are doing well and those that were struggling, which employees where productive and which were not, and it provided an overall financial performance report of all the stores. With that information, the company could pinpoint problem areas. “With our productivity platform, the client was able to overcome issues within six months, turning poor performing stores around and reinforcing high performers,” elaborates Peterson. Since using Cambeo, that same company has not only increased productivity in all stores, but the most important sign was seeing sales increase and overall profitability across the board.
The timing of Cambeo’s powerful solution to increase employee productivity falls in line with the landmark study on retail by Cisco released in January 2017. “CISCO indicated that retailers are missing a $187 billion opportunity by failing to prioritize investment in employee productivity,” says Peterson. For retailers, investment in their people is rarely a priority. Cambeo believes retailers, especially those with physical stores, must create experiences for their customers to come back. Those who are ahead of the curve, know that their people are the last touch point to their customers for good or bad.
With the solutions offered by Cambeo, employees, managers, and executives also have better visibility of where they stand and the steps they need to take to drive better results. “Visibility is so important to drive results and change and when you have Cambeo’s level of visibility, it can change the game,” adds Peterson. Employees can see their own profile and productivity and thus see where they need improvement. Managers can see their entire staff and know how they’re performing, how engaged they are in the work and get an idea of what the culture is really like in their store. Executives can see all of those things in addition to financial information and insights Cambeo can provide with its predictive analytics. Cambeo is bringing value to retail organizations by delivering real-time solutions alongside offering greater visibility and they aren’t stopping there “We have a very aggressive roadmap, the things we are doing are cutting-edge and the product plans are extensive. There will be a steady stream of innovation, new features and Cambeo will continue to explore predictive analytics in greater depth,” concludes Peterson.