Training and Best Buy

In today’s business, the competitive environment is not only about goods and services, but it is also about talent acquisition and retention.  Not only do employers have to provide competitive pay and benefits for associates, but to differentiate themselves, they must also provide an environment where associates can learn and grow.  It appears that Best Buy ranked 3^rd out of 125 by Training magazine 2019, is doing just that.

            According to Training magazine’s, Best Buy’s Training Evolution, published in In 2018, Best Buy set three strategic goals: 

1. Evolve How We Sell
2. Expand What We Sell
3. Continue to Reduce Costs and Drive Efficiencies

            The third initiative appears to run counter to the first two, but for Best Buy, it works.  The company understands that to achieve all three goals, investment in human resources is critical.

            Best Buy continues to invest in sales training, the first goal because there is a “direct connection to driving sales and a better customer experience.”  It has developed the Sales and Solutions Essentials (SSE), which is a four-day training for all new sales associates. The training, divided into four sections, focuses on the company’s main product categories: Computing, Home Theater, Appliances, and Mobile.  The company believes this approach has not only helped revenue and profits, but it has also positively impacted its customer satisfaction rating. 

            The company has also invested time in trials, testing products that could potentially be part of Best Buy’s offering.  Again, it has been a thoughtful process that then resulted in offerings such as In-Home Sales.  The company developed the offering but also provided training to its associates so that it was adequately rolled out and supported.

            By investing in training in the three areas outlined above, Best Buy has been able to provide consistently delivered product offerings while providing excellent customer service.  Because the company delivers training using various methods – in-person, e-learning, shadowing, videos, and learning bytes, the company has reduced its training expenditures by $1 million while keeping training as a top priority to meet the above goals.

            I had the opportunity to visit a Best Buy during the holidays.  The store was filled with shoppers and I fully expected it to be a long and painful experience.  Much to my surprise, it was not.

https://trainingmag.com/trgmag-article/best-buy%E2%80%99s-training-evolution/