Lowe’s Companies, Inc. is a $22 billion retailer of a complete line of home improvement products and equipment. The company serves more than seven million do-it-yourself and commercial business customers each week through 780 stores in 42 states. Lowe's is the world's second largest home improvement retailer and the 13th largest retailer in the U.S. This 56-year-old Fortune 100 company employs more than 110,000 people, and is in the midst of an aggressive expansion plan, opening a new store on average every three days. They have been a publicly held company since October 10, 1961.
Situation / Opportunity
Lowe’s relies on its store management to deliver measurable results. With aggressive growth goals, the need exists for committed, motivated and stable management.
Goals
Motivate managers to hit performance standards year after year
Establish a structure not requiring constant annual revisions
Communicate to customers that Lowe’s values their employees
Create a displayable award that immediately symbolizes excellence
Structure
Create three distinct rings (male and female) that accept diamond additions
Year 1: ring Years 2-6: diamond addition
Year 7: ring Years 8-12: diamond addition
Year 13: ring Years 14-18: diamond addition
Managers qualify based on reaching 100% of both their revenue and budget standards.
Client Background