What a retail store starts replacing managers with “key holders” RUN FOR THE HILLS. toys r us and Sears started doing that two years before total liquidation.
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major department stores do not have "key holders", smaller stores do, but any store with a large cash volume and heavy foot traffic should always have a manager on duty, not only for customer complaints, but for safety and security, key holders are NOT managers in training and anyone who thinks they are is a fool.
Keyholder positions have been within retail for years. That isn’t anything new. It’s a stepping stone to becoming management. It’s essentially a training period.
I agree with the post about closing unproductive store....u have small stores in dead malls all over the place...think Texas and South Carolina...I do believe 10 years ago they made $$$ but that business model has changed..the Belk family saw the writing on the wall an GOT out at the perfect time!!!
A part time "manager" aka key holder is cheap solution when u have no associates to manage....4 people closing a small store doesn't require someone making 45k a year ( an I'm sure Belk is struggling to find A retail professional willing to make make that)
So give keys to anyone...they are not driving your business...they are just closing the store for the night...
@1glu, we are talking about reality, not dreams. “They” will not save money by not paying big salaries and bonuses. “They” will save money to pay to themselves. That’s reality and doesn’t matter that we don’t think it’s right.
Every apparel based retailer is doing it now! Designers boutiques, smaller stores- everything is based on hourly key holder concept. Some places don’t even offer full time for those key holders.
If a company has to replace managers with $16 an hour key holders they are at the brink of bankruptcy. period. End of discussion. It’s not the norm for a stable company, just companies screwed over by private equity.
A company can save money by not paying a mo--n like Don Hendricks, nir patel, or Lisa Harper millions and millions of dollars per year.
Yes, key holder is a manager without the pay.
No, replacing managers by key holders is not “beginning of end”.
Every company’s doing it, so they can save money for better bonuses for people on a top.
Or when another CEO has to go, he/she gets couple of millions. Or more.
But again, key holders instead of managers- it’s pretty normal now.
A key holder is a manager without the pay.
Why wait for two years Belk! Close all your poor retail stores while you still have some dignity and self repect! Get cash now or trash your flee market dirty and filthy retail stores after creditors go after your store liquidation! Good luck!