Research for First Cash Pawn Manager Development and Training Design
Russell, Justin Michael
Master of Leadership Development
First Cash Pawn has experienced performance gaps in the majority of its locations that have limited the opportunity for optimal profitability. The organization has benchmarked best practices that have proven successful when actively adopted, but many of the stores still have not aggressively engaged in the methods. Through research built upon secondary resources and critical observation it is clear that First Cash Pawn could benefit from investing in the development and training of the workforce, in particular the store general managers. Research findings conclude that the store general managers would most benefit from a development and training design that would be based on the behavior of contingent rewards, as transactional leadership characteristics are prevalent in the job design and expectations. Successful execution of an accurate training and development design will aid managers in all aspects of the job, but most importantly will increase the manager's ability to put into action the best practices. The organizations investment in the workforce should not stop at this most immediate level, but should continue to evolve into a process that regularly assesses training needs, implements training, and assesses training effectiveness. The First Cash Pawn investment of such measures will potentially create a competitive advantage in the industry that will be present during all economic cycles.