Chartered Management Institute (CMI) data suggest that only 25% of managers in the UK have a management-related qualification. On the face of it, this is not a disaster. The ‘learning as you go’ approach has served managers and would-be managers well over the years. However, those wishing to progress in management roles would be well served to consider a retail qualification to fill gaps in their skills.
Benefits
A recent Institute of Leadership and Management (ILM) survey showed CEOs rated people management and communication skills as the most important attributes they look for in managers. Most management programmes have a strong focus on improving communication and management skills, which means completing one may improve your prospects when applying for retail management jobs.
Also, to gain qualifications requires a solid foundation of knowledge that’s likely be broader and have more depth than what you would be able to acquire solely through work experience. They allow you to research trends in consumer behaviour and gain awareness of legal requirements. And, if undertaken while working, they give employers proof that you care about your career and are able to see things through to completion.
While earnings are only one aspect of ultimate job satisfaction, it should also be recognised that managers who hold professional qualifications stand to earn £152,000 more throughout the course of their career (a major conclusion of a recent CIPD report on professionalism).
In choosing a course of study, retail professionals can opt for a general management qualification, one related to a specific function (such as marketing or human resources) or a retail-specific management programme.
1. Management qualifications
If the purpose is to improve management and communication skills, then it would be best to select a generalist qualification such as the CMI’s Diploma in Management or one of a range of programmes available from the ILM.
2. Programmes for specific functions
If you're set on progressing within a particular function, such as human resources, marketing or distribution and logistics, you should consider qualifications available from the relevant professional institute, such as the Chartered Institute of Personnel and Development, the Chartered Institute of Marketing and the Chartered Institute of Purchasing and Supply.
3. Retail-specific qualifications
There are a number of qualifications that focus specifically on conditions and issues within the retail sector and that are particularly suitable for individuals with some work experience who are already in management roles or have the potential for career progression.
The National Qualification Framework has identified nine levels of qualification to make it easier for students and their employers to make informed decisions. These range from entry level through to level 8, which is for leading practitioners in their field.
Level 4 upwards would typically be appropriate for professional retailers and managers. Examples of these courses include the City and Guilds Higher Professional Diploma in Retail Management (level 4) and the Edexcel’s BTEC Higher National Diploma in Retail Management (level 5).
Topics covered in retail management qualifications include:
- Retail environment
- Consumer behaviour
- Customer service
- Managing retail operations
- Finance
- Managing change and innovation
- Technology and e-retailing
- Supply chain
- Retail marketing
- Law
What about foundation courses?
One of the big developments in retail management qualifications in recent years has been the establishment of a number of foundation degree courses at universities and colleges across the UK, supported by Skillsmart Retail – the sector skills council. Participating higher education institutes include Manchester Metropolitan University, the University of the Arts London, Leicester College, Milton Keynes College and Dudley College.
Commenting on the impact of just such a qualification on her working life, Tesco compliance manager Kathy Coveney said, “I feel sure that the degree will improve my career prospects and open up new opportunities. I feel that the course has given me much more confidence in my abilities and I take on new challenges with a more ‘can do’ attitude.”
Students completing a foundation degree then have the option of converting this to a bachelor’s degree with some extra study. Available degree courses include more specialist offerings focusing on, for example, retail marketing, fashion retailing or buying, while postgraduate degree options include retailing MBAs, which can be done on a largely distance learning basis.
Leading employers also offer courses. They are workplace-based, allow flexibility in terms of how long it takes to complete the course and do not require previous qualifications.
Finding the time
One of the big issues is whether a qualification can be pursued in tandem with work and other responsibilities. The most flexible way of studying is distance learning, but it is important that this is through a reputable institution that is recognised by employers. The Open University offers a number of general management and business qualifications, into which students can also incorporate an optional retail management and marketing course.
Prospective candidates need to think carefully about the potential benefits to their career of a particular course, versus the amount of time they will need to spend away from work, the level of commitment required, cost and the likelihood of support from their employer.
The value of qualifications as part of a retail professional’s toolkit has definitely increased in recent years. The key is to be clear on where you are headed and select the right qualification to help you get there.
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