Industry executives and experts recently gathered at RWRC’s Virtual Leaders’ Summit to explore what it means to be a leader in retail today. Tune in to their thought-provoking lectures for free on-demand here

How do you drive team and company performance under pressure, while also ensuring workforce wellbeing and a standout company culture are kept centre stage? 

This was the big question being tackled by retail supremos and experts at the recent Virtual Leaders’ Summit, in association with Be Inspired, across a series of interactive panel discussions, keynotes and fireside chats.

With Retail Week having made all content from the week free to watch or listen to on-demand, we’ve rounded up some of the golden nuggets of advice shared:

1. Leaders must be authentic and human

Kate Hardcastle 2

Kate Hardcastle

In her keynote on responsible retailing, TV consumer and business insight expert Kate Hardcastle asserted: “We need leaders that can understand that the future is critically dependent on success in making our businesses more human. 

“The tidal wave of Covid-19 has churned up the seabed with so many issues waiting to be properly dealt with, and the urgency and immediacy of the tide are proving uncomfortable for many leaders. The new dawn on the horizon will need the very best of us to use this reset to the best of our opportunity. 

“Our generation of leaders require all the tenacity of the second or the third runner [in a relay], often carrying the baton the furthest distance without getting the glory of the finish line. And as change-makers with such a significant agenda, we must accept that this is the time to feel vulnerable. 

“It is the right time not to know all the answers. Right now [leaders] must be thirsty to find out and brave enough to make the changes. Our greatest gift is taking time to listen, to ask uncomfortable questions and then find ways to hardwire into our business the change that’s really needed.”

2. Prioritise the ESG agenda 

In his closing keynote on doing good for business, former Tesco CEO Dave Lewis said he wanted retail leaders to set the ESG (environmental, social and governance) agenda: “If we aren’t responsible about how we invite consumers to consume then actually you’re destroying or weakening the long-term resilience of your business model.

“The opportunity for retail is to stop looking at the environment and sustainability through a lens of impact – you see lots of people trying to measure impact – and start thinking about dependents. Your business model is dependent on so many things so how can you be responsible about that? 

“Your dependents will change based on what retail sector you’re in but if you think this way, you’ll set standards differently, relate differently, communicate differently and run your business through a slightly different lens.”

This point was echoed by Hardcastle: “Consumers, in the main, do not expect business leaders to solve the world’s problems in addition to running a profitable organisation. But they do expect leaders to be respectful and work to remedy the challenges we all face collectively.”

3. Give staff the opportunity to grow and recognise them as individuals

Skinnydip London James Gold

James Gold

In the panel discussion on how to get ready for the Gen Z workforce, Skinnydip CEO James Gold said motivating staff and emphasising their value is key to attracting and retaining talent: “This year has been so challenging personally and professionally for so many people that, looking to the future, I’m of the opinion that people want to work at companies that make them happy and that they enjoy working for. Aim to give them a place they can grow professionally, hit KPIs and have a sense of achievement.

“We’ve found talking to staff, listening to them, understanding what’s important for them and that being reflected in the business makes them feel valued and part of the brand. 

“Culture is just as important as career progression. And for our team, it’s not necessarily about rising through the ranks, it’s being at a company that understands that they are more than just an employee and focussing on the individual as well.

“With Gen Z and the culture we have at Skinnydip, it’s very much a case of not micromanaging and not looking over their shoulder.”

4. Foster young talent and make sure they have a voice

During the same session, eBay category lead (and part of the Gen Z demographic) Nouman Qureshi said access to networks, mentoring and support had been crucial to establishing his retail career: “I am where I am today because of the support I’ve had at eBay. A group of colleagues and I founded an internal network called Future Leaders – it’s an early careers network with about 20 of us and it’s all about creating opportunities for young professionals to connect, learn and grow.

“It provides young professionals in the business with a voice and we can express and forward these ideas to senior leaders and make sure our point of view is represented. 

“Through this network, we’ve found that Gen Z has an incredible amount to offer and we have ambitious plans to expand with a reverse mentoring programme.”

5. Driving racial equality is not simply the job of HR

Wilfred Emmanuel-Jones

Wilfred Emmanuel-Jones

During his keynote on racial equality in retail, The Black Farmer founder and CEO Wilfred Emmanuel-Jones explained how the onus lies with leaders to be agents of change: “All too often when leaders talk about Black Lives Matter and driving racial equality, it’s easy to refer the challenge to a human resources department but what you, as a leader, do personally is going to make the biggest difference.

“I know you have an organisation to run but it’s no good just being a manager of people, your role is to represent what the business stands for.

“My suggestion for chief executives to really make a change is to get someone from a diverse background in for work experience for one week of each year who they could mentor. Not only will that send a massive signal to the mentee that you’re there to support them, but it also sends a massive message to your organisation too.

”That will do far more to bring about change than some policies or actions led by your HR team.”

6. Make mental health support the norm

Clarke Carlisle

Clarke Carlisle

Sharing his journey with depression in his keynote, ex-footballer and ITV pundit Clarke Carlisle reinforced the need for leaders to prioritise mental health for the benefit of both employees and their bottom line: “Mental health support saves lives. If people are at crisis point and you have an active support system within your workplace, you will have the competence and confidence to intervene and to signpost people to the relevant services.

“It is not your responsibility to fix said person but it is your responsibility to direct them to the appropriate services that they need at that moment in time.

”Supported employees are far more capable at work. Deloitte’s research shows that adverse mental health issues cost the industry £45bn per year and they were last year’s figures. That means, on average, it’s costing you £1,500 per employee per year. And that’s pre-pandemic.

“Every person now, at a bare minimum, is going through health anxiety or social anxiety because of the lockdowns and the impact of Covid-19, alongside job security concerns.

“If you can address mental health in your workplace then research has shown that for every £1 you spend on a support structure, you will gain £5.”

7. Be conscious of decisions that could sideline women

Fiona Dawson photo

Fiona Dawson

In the panel discussion A life lived online, Mars Food global president Fiona Dawson expressed concerns about what the long-term impact of the pandemic, and decisions being taken by retail leaders, was having on gender diversity: “There are some really worrying data points coming out [since the pandemic started] proving women are picking up the majority of the homework, be it homeschooling, housework, etc. 

“We’ve also seen fewer women taking on extra qualifications than men and that gap is widening, while women are more likely to be furloughed and to lose their jobs. What is that going to do to the workforce of the future?

“I’m deeply worried that by staying in this structure we will also see a backwards step for the economic prosperity of women. Just as we’ve looked at the structure of the workforce and things like maternity leave and shared parental leave, we now need to focus on this.

“Leaders need to lead by example, they need to check in and see how people truly are doing and they need to be aware of unconscious gender bias that may be going on in their business with some of the decisions that they’re taking.”

Leaders-Summit

This is the most challenging period in your career to date. RWRC encourages you to use the learnings and insights from the Leaders’ Summit to understand how you can be the best possible leader in these testing times.

All content is free to watch or listen to on-demand here.