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Best Buy – “ROWE into a difficult industry

Apr 15, 2009

3.0

Best Buy Manager in Richfield, MN:   (Past Employee - 2008)

Pros

Results Only Work Environment allows you to work where ever and when ever you want as long as you deliver results. Every employee gets a laptop. Good cafe on site. Campus has a bank, dry cleaner, video games, pool tables and a theater that you can use to watch movies. The company knows it needs to change to survive in this industry. 401K match is 4% is given right away - no vesting period. Medical benefits and options are very strong. Lots of opportunities to have an impact on the business and to get a seat at the table depending on your role.

Cons

Like most retailers, they underpay compared to other industries. Performance reviews put you into a box and becomes difficult to move once you are in a box - hence first impressions are super important. Cost cutting has resulted in downsizing and now nobody has much job security. We have watched our main competitors die but have not really come up with a killer value prop that would allow us to survive in the long term. So much focus on stock price and growth that sometimes we run just to be running. Ready, shoot, aim mentality prevails as well as old boy's clubs.

Advice to Senior Management

Hire some more people from outside the retail box. Get some new thinking in there.

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Best Buy Overview (BBY )
Web
www.bestbuyinc.com
Industries
Size
5000+ Employees, $40B+ Revenue
HQ
Richfield, MN
Competitors


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