This is a series looking at top lessons learned from speakers at Ragtrader Live 2016. The stakes are set to get even higher this year, so be sure to grab your tickets.

Department store Myer revealed it would launch an internal training school, with the first phase going live in February 2017.

Myer deputy chief Daniel Bracken said Myer would spend the next six months building content with a focus on store team members.

"We know we need to invest in training and development," Bracken admitted.

"Warringah (NSW) will be the first store where we've taken a very different approach to how we recruit with a major focus around the right capability," he said.

"I think historically it's been, put an add on SEEK and whoever applies gets the job and we can't operate that model any more."

The initiative is part of a sweeping $600 million turnaround strategy for the deparment store.

"Myer's got foot traffic of 130 million people coming through our doors every year, plus another 50 million online," Bracken said of its customer base.

"We've got the best loyalty program in the fashion sector – five million members of our loyalty program."

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