Coles Change Program: Reducing Employee Turnover Rate

In any organization, the turnover rate is an important parameter to be considered as it reflects the smoothness of the environment and overall working conditions. A high employee turnover rate can be detrimental to the organization as it leads to a loss in productivity, higher costs, and a negative impact on the morale of the employees. Therefore, it is important to have a good performance appraisal system in place so as to identify the employees who are not performing up to the mark and take necessary action.

The Australian supermarket chain Coles has initiated a change program with the main aim of minimizing the employee turnover rate. As part of this change program, Coles has amended its good performance appraisal system and has also introduced new remuneration and benefits packages for its employees. This has resulted in an improvement in the performance of the employees and has helped Coles to achieve its goal of reducing the employee turnover rate.
Coles has always been known for its good performance appraisal system. This system helps to identify the employees who are not performing up to the mark and also enables Coles to assess the performance of its employees on a regular basis. Under the new system, Coles has introduced new remuneration and benefits packages for its employees. These packages are designed to motivate the employees and help them improve their performance.

The new remuneration and benefits packages offered by Coles include a performance-based bonus system, which is linked to the employee’s individual performance and is paid out at the end of each year. In addition, Coles has also introduced a new long-service leave policy, under which employees who have completed five years of service with the company are eligible for three months of paid leave.

The introduction of these new packages has helped Coles to reduce the employee turnover rate by motivating the employees and helping them improve their performance. It has also helped Coles to create a more positive working environment, which has resulted in an improvement in the morale of the employees.
Coles is confident that the change program will help to reduce the employee turnover rate and improve the performance of the employees. The company is also hopeful that the new packages will help to attract and retain the best talent in the market.

FAQ

The Australian supermarket chain was inspired to implement a change program in order to improve its business.

The specific changes that were made as part of the program included new employee training, customer service initiatives, and changes to the store layout.

Employees and customers reacted positively to the changes, with employees finding the new training helpful and customers appreciating the improved customer service.

The overall impact of the change program on the supermarket chain's business was positive, with increased sales and profitability reported after its implementation.