Technology has afforded us the opportunity to be in two places at once. Using remote connectivity, a person can be in one location conducting business, while “connected” to another watching video or conducting a video conference. Even though technology provides us this convenience to conduct business remotely, face to face loss prevention still provides greater benefits as it comes to a solid loss prevention program.Read More
I hate to begin a post with “back in the day,” but…back in the day, retailers had the technological advantage over dishonest employees. We had our cameras, our recording devices, and keen powers of observation to detect potential dishonesty. Mostly we could watch them a lot easier than they could watch us. I still recall training store managers to look for certain signs that today seem laughable. Suggestions such as to observe for “counters” at the cash register. Counters were any thing, like paperclips, pennies and the such, used to keep track of how much money the dishonest cashier had accumulated in the drawer from false refunds etc. Even watching for “customers” who wait to approach a specific cashier isn’t as easy as it once was. Smart Phones have changed the game.Read More
Topics: loss prevention awareness
1. Training Reduction - We live in an economy where cost cutting conversations have become more common than improvement discussions—unless of course you consider cost cuts as an improvement. Training departments and programs have moved from a staple to a luxury. But in saving the time and costs, we often sacrifice those hard-earned dollars we work so hard to earn. Industry experts estimate that nearly 15% of all losses are the result of error. Those estimates are becoming difficult to defend in an environment where companies loath spending any money on educating employees. The real problem is that without a solid foundation and the certainty that all the ships are moving in the right direction, the causes of our loss and declining profits become a large gray area. And the little mistakes can really add up. Transfers and shipments can be mis-processed, incorrect prices are rung through the register, waste or damages are mis-handled, and improper procedures open the door for breaches to our merchandise and money protection standards. Really, the only way to know the difference between an employee who doesn’t know versus one who doesn’t care is to ensure each has received the proper training and guidance on how to do things right.Read More
The Ninth Annual Report from The Retail Equation uncovers staggering numbers regarding 2013 merchandise returns in comparison to last years loss prevention awareness trends.