Summary: In every retail store, the person in charge of day-to-day management and operations is called the Store Manager. Every staff working in the store reports to the store manager, who then answers to the district or general manager.
Duties: Being a store manager comes with complex responsibilities, so he/she performs duties of the HR, accounting and even marketing departments. Store managers recruit, train and dismiss employees, uphold performance management, complete payroll, and schedule work times, and handle various tasks related to the store’s business operations. As part of his/her accounting duties, the store manager handles profit and loss, safety and security, loss prevention, facility management, and banking. When dealing with product management, store managers are responsible for ordering, receiving, handling damaged products, price changes, and returns. The manager must also meet the store’s monthly goals with the aid of individual sales quotas, contests for the staff or implementing sales promotions. Store managers also decide on expenditure or payout cut downs by reducing operating costs or employees’ working hours. They also ensure the store and staff are safe and secure within the premises.
Education and Training Requirements: Store managers must possess a high school diploma, with additional courses in business management, marketing, economics or mathematics. Sometimes, employers prefer those who have completed English or public speaking classes, which can help managers in communicating with customers and staff effectively. Some large stores or companies require candidates with a college degree in social science, business management, business accounting, marketing or Liberal arts.
Knowledge and Skills Requirements: To become a successful store manager, one must possess excellent communication and delegation skills, operation and administrative experience, good marketing skills, effective people skills and analytical skills. He/she must also be able to work independently and as part of a team.
Working Conditions: Most store managers work in the confinement of his/her clean, well-lit office situated in the store. They work up to 60 long hours, 6 days a week. It is extremely rare for managers to take holidays off or schedule vacations around a holiday, even if the store is not open on that day.
Salary: Compensation depends on the size of the store, the responsibilities, and the amount of customers served, but it ranges from $31,360, to $100,000 a year. Some stores offer their managers special bonuses, or commissions based on the store’s performance. Other stores also offer employee discounts on store commodities.