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New Year, New Strategies: Make your loss prevention resolutions a success

Posted on 1/10/12 10:30 AM

I once heard someone say, “Change is constant and if you’re not moving ahead, you’re falling behind.” Change is hard for many as it requires an honest assessment of what went well and what didn’t. With the New Year just beginning, ask yourself, what can I do to make this year better with regards to my loss prevention program?

Here are some points to consider:

Has your loss prevention program achieved the desired results or has it just maintained acceptable results? Were you able to move forward with your program or just remain status quo? Change can be difficult, but in today’s business environment to be successful we must be able to not only accept change, but create and direct change.Change Ahead resized 600

This year, why not try a new strategy aimed at producing exceptional results? Why not look at your program differently and see how you may be able to change your initiatives for the better?

The first step is to put down on paper everything you want to change and how you envision its success. Create a wish list that includes some of the “how” or “what” you need to change in order to get better results. Do not worry about whether it will work or not (you will figure that out later). Get your thoughts in writing; it will help to read and review the information as you work through your strategy.

Not sure what to write down? Here are a few examples that may help jump start your New Year’s strategy.

  • Get more value from our audit program

  • Engage other departments that can help to implement our LP strategy

  • Understand what our associates need

  • Improve communication of our results and strategies

Get more value from our audit program -“Audit your Audit”

Sure, your loss prevention audit has been effective; at least that’s what you tell yourself.  Look at your audit objectively and identify what changes are needed.  Perhaps developing some “benchmarking” questions will help your organization focus on critical areas.  Identifying key operational questions that impact shrink can narrow your focus for operational improvement and identify key performance indicators, which could enhance profitability. Whatever you do, do something new and innovative that pushes your organization to be better and ultimately more profitable.

Engage other departments – “Partnership starts with building relationships”

Share your plan with key members within your organization who can help you achieve results. Your partners may have innovative ideas that will help support your initiatives and help keep the organization focused on the plan. They can also help influence and change behaviors at many different levels of your organization.

Building Relationships is a must in the loss prevention world.

Understand what associates need – “To be wise, one must listen”

So what do associates know anyway? Develop a strategy that allows you to get into the weeds of your operation. Creating an associate survey that supports your efforts your loss prevention program will help you understand what adjustments are needed. Ask questions that identify both systemic issues and measure awareness within the organization. After all, if you don’t understand what your associates think and know about loss prevention, your program could fall into the same old rut as last year. Evaluating associate responses will help develop a program focused on crucial areas of the operation such as training, awareness and operational improvement.

Improve communication of results – “Let your voice be heard”

Once you have developed your strategy, broadcast it to your audience. The best way to let your voice be heard it to tell a story. Create a blueprint for success that supports your vision and motivates people to succeed. Using that blueprint, develop a story about your goals and how together everyone in the company will succeed. Telling a great story draws people in and helps you connect with your audience.

Showing Value is important in today’s business environment.

Thinking outside the box can help achieve your goals and ultimately increase profitability. The first step is always the most difficult, so step confidently and this can be the year you take your loss prevention program to new heights.

By Bill Angiolillo, CFI

Director of Client Services, LP Innovations

Topics: Loss Prevention program and development

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