We are thrilled and deeply honoured to share that on Thursday, March 27, QBD Books was named one of Australia’s Best Managed Companies for 2024 by Deloitte Private. For the second consecutive year, Deloitte Australia has recognised us as one of the top six high-performing private businesses in the country.
The Best Managed Companies program acknowledges and celebrates privately owned and managed businesses across Australia that demonstrate exceptional business performance across four critical pillars: strategy, culture and commitment, capabilities and innovation, and governance and financial performance.
Keep reading to find out more about this esteemed award, our CEO, Nick Croydon discussing the effective initiatives QBD Books has implemented that has created great success with our business growth and team member retention.
QBD Books named one of Australia’s Best Managed Companies
For the second year running, the country’s largest Australian-owned and operated book retailer, QBD Books, has been recognised as one of six top-performing private Australian businesses in Deloitte Australia’s 2024 Best Managed Companies awards.
Sponsored by Deloitte Private, the Australia’s Best Managed Companies program recognises privately held companies for their organisational success and achievement, allowing them to benchmark against some of the best private companies in the world.
“QBD Books is proud to be once again recognised as one of Australia’s top managed private companies,” exclaims Nick Croydon, CEO of QBD Books. “This award reflects QBD’s continued growth, commitment to staff engagement and focus on customer experience in our stores and online,” he continues.
“Our community of 1,200 staff across our stores during peak periods, plus 32 dedicated team members in our Brisbane head office, continue to be the driving force of QBD’s growth and success. As we approach our goal of 100 stores, it is integral to us that we keep a high standard and the customer’s experience at the forefront of what we do,” explains Croydon.
QBD Books attributes much of its continued success to its industry-leading approach to staff engagement and development, particularly its ACE (Awesome Customer Experiences) strategy.
“Our ACE strategy is more than just a customer service framework – it’s a mindset shift that empowers our teams with practical tools, clear expectations, and real-time coaching,” explains Croydon. “It brings customer experience to life through monthly skills training, coaching, and recognition programs that connect directly to our business goals.”
The company’s CEX Cycle, part of the ACE framework, provides clear expectations for how customers should feel when shopping at QBD and defines the specific behaviours and skills required to create those experiences. This national approach ensures consistency across all 91 stores while still allowing teams to personalise interactions.
Recognition plays a key role in QBD’s engagement approach. The company regularly profiles “ACE Heroes” – team members who demonstrate exceptional customer experiences – and celebrates achievements at its annual QBD ACE Awards, attended by over 100 senior booksellers, authors and publishers, with watch parties in stores nationwide.
QBD has implemented a comprehensive career pathway program that enables team members to progress from entry-level positions to management, with over 70% of store managers promoted from within. This approach has resulted in staff retention rates 35% above the retail industry average.
“We’re a community of book lovers who share our passion with customers every day, and we know our people are our greatest asset,” says Croydon. “Our engagement strategy focuses on skills development, meaningful recognition, and creating a sense of community across our national network.”
The company has also invested in technology to enhance both customer and staff experiences. Recently implemented Kepler Analytics provides real-time insights into customer behaviour, helping store leaders make data-driven decisions and tailor coaching effectively.
“We believe that empowering our team with the right tools and insights not only enhances the customer experience but also fosters a dynamic and rewarding work environment,” he adds. “Our staff feedback platform allows team members to share ideas directly with leadership, and many of our most successful initiatives have come directly from frontline employees.”
The results speak for themselves. In 2024, QBD achieved 8.4% year-on-year sales growth while outperforming the national market, which declined by 3%. The company also boasts impressive staff retention, with the average tenure for Store Managers exceeding 5 years – well above industry norms. Its longest-serving staff member has been with QBD for over 25 years, and many of its store managers and senior leaders have worked their way up through the business.
Croydon highlights that he is honoured to be accepting the award on behalf of the QBD Books support office and retail teams at stores across Australia.
Natalie Faull, Deloitte Private lead partner and Best Managed Companies Asia Pacific leader, remarked, “The Best Managed Companies program celebrates the passion, resilience, and focus on sustainable growth that are hallmarks of Australia’s leading private businesses.
“These businesses are purpose-driven, disciplined, and industry-leading. They are confidently navigating the future and setting an inspiring standard for success among private businesses in Australia.”
For more information on the awards program, visit the Australia’s Best Managed Companies website, bestmanagedcompanies.com.au
To find out more about QBD Books, please visit: www.qbd.com.au
