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 Matchbox
17 Jul 2006
 Article PDF (
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Matchbox is a family owned and operated business specialising in kitchen and homeware accessories.
Starting with stores at High Street Armadale and Chadstone Shopping Centre, Matchbox has grown to be recognised as one of Melbourne’s leading brands.
Matchbox provides its customers with a simple formula – famous brand name products at the right price and customer service standards to ensure any specialist needs and wants are met. Product selection is critical, with Matchbox buyers constantly searching for that something different to complement the stores. Whether it’s a Scanpan Wok, Wusthof knife or even beach umbrellas with a difference, it will be at Matchbox.
The Challenge
Matchbox had grown from a two-store operation in 1996 to a network with a well-recognised brand within Victoria, Australia. The family recognised the challenge of maintaining the per store performance in each store as the network expanded. To create brand loyalty and stay at the top of the game, retailing is a day-by-day business requiring consistency of service and timely execution of strategies.
A Sense of Ownership: Any business owner will recognise the challenge of creating the same sense of ownership in a team.
Matchbox wanted to create a performance-orientated culture that would in turn drive the performance of the business, and create a sense of ownership within the people in the business by recognising and rewarding people for great performance.
The Solution
Matchbox engaged DC Strategy in recognition of its specialist employee incentive and business development expertise.
The project focused on understanding the core key performance indicators in the business and taking the time to understand what was really important to the retail team. Through a process of interviews and analysis DC Strategy produced interesting results that helped to create an employee incentive structure and reshaped how the company measured performance.
It's More Than A Bonus: It is equally as important to understand what actually drives the business performance, as it is to create a structure to reward people for performance.
Roles and responsibilities of the head office team were clarified and structured providing clear accountabilities.
This ensured that everyone was aligned to driving the performance of the business in a way that was practical which resulted in improving the team’s performance.
The Outcomes
DC Strategy worked very closely with the Matchbox head office and retail team to create a ‘Performance Dashboard’ and ‘Employee Incentive Plan’. The ‘Employee Incentive Plan’ was launched in a team environment, which gave the company culture a real boost.
The motivations of the management and family were communicated to the Matchbox team and the focus was on creating a performance-orientated culture that recognised and rewarded great and consistent performance.
It’s All About People: A well-structured ‘Employee Incentive Plan’ can create a culture that can drive growth in a business. It recognises and rewards a businesses most important asset – people.
The ‘Performance Dashboard’ forms the backbone of how the management team assesses the performance in each store and benchmarks across the network.
Matchbox has transitioned to creating a performance-orientated culture in the network where the team has now increased their sense of ownership. They understand critical performance drivers and how it contributes to the future success of the business.
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