In Your Best Interest
Don’t think that because it is not your business, then it is not your business whether or not it succeeds. You might not be the owner, a boss, or even a manager, but the success of the company you work for directly affects your livelihood. You might be just starting out at the company loading boxes in the warehouse or are still working at the cash register. Regardless, if that company takes a tumble, no one is immune from sustaining an injury or two.
Looking around, we can see that the business field is fraught with challenges and pitfalls. There is an old statistic that says that many businesses fail within ten years, even more fail within five, and even greater amounts fail within one year. Even if your business, or the business you are working for, has been around for more than ten years, the chance of failure is still existent.
Businesses Are Struggling
In a world full of technology that is constantly changing the way people do business and how consumers make purchases, many mega giants that have been around for decades are crumbling under the pressure. Payless, which has been around for over 60 years, has closed “2,100 of its locations in the United States and Puerto Rico… [and also] plans to shut down its online store… Payless is the latest brick-and-mortar retailer to suffer in the age of Amazon (AMZN), joining Toys “R” Us, Brookstone and clothing store Charlotte Russe” (1).
In fact, here are a few other major businesses that have had to close many of their stores. Note that each of these stores listed have been in business for over 50 years.
Abercrombie & Fitch – in business since the early 1900’s
Has already had to close hundreds of their locates and will continue this downward trend by closing three more major stores, including one in New York City.
CVS – founded in 1963
Has had to close over 70 store locations in order to cut their costs and maintain their business.
Gymboree – founded in 1976
They have plans to file for bankruptcy a second time and will close 900 of their stores.
J.C. Penny – founded in 1902
Closed 138 stores in 2017 and will close at least 24 more this year.
Macy’s – founded in 1851
The oldest store on our list has had to lay off about 5,000 workers as a result of shutting down some of its stores (2).
As can be seen by the numbers above, it does not matter how long a company has been in business. Any business can struggle and have to close its doors.
Even more powerful than the doors that are closing, are the jobs that are lost. Each one of these stores closing represents thousands of jobs lost. In fact, as of April 2019, more than 41,000 jobs had been lost in 2019 alone as a result of retail stores closing (3). That, of course, does not include the hundreds of thousands of jobs that have been lost in the last several years.
And guess what? All those jobs lost included managers, salespeople, clerks, stockers, and more. When a business collapses, everyone suffers no matter how high or low up in the company their position is.
So why do we, a sign company, bother telling you all of this? Well, as a business service oriented company, and business owners ourselves, the achievements of our fellow businesses is an area of concern. We have written many blogs directed at business owners, some helping owners avoid making common sign mistakes, others focused on using signage to compete with Amazon, and other still meant to encourage owners to use signs to solve major business owner problems.
However, if all employees take personal responsibility for the success of the business they work for, then they have an advantage over many other companies. Of course, management and the ownership is responsible for inspiring this in their employees through strong leadership. But there is no guarantee of this. Despite the leadership or lack of it in upper management, it is in everyone’s best interest to care about the fate of their business no matter what their position.
Signage is one way to inspire the success of a business and its employees. We hope this introduction blog helped all our readers to see the importance of caring about the place they work for. Check in with us next week to learn specifically how signage can make a positive impact on a company that all employees can care about.
Experience and innovation have been the backbone of Landmark Signs for more than 40 years. Located in Orange and servicing all of California, our services include sign design, sign manufacturing, and sign installation. Choose our specialized sign expertise to turn your ordinary sign into a Landmark!
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