Welcome To Our Loss Prevention Community Blog

Our Community represents many different views and opinions facing the numerous issues in this industry.
Please feel free to comment and post on various topics facing the Loss Prevention Community today.
Diversity of opinions and views are always encouraged.

Thursday, August 13, 2015

Building a Loss Prevention Strategy for Retail...

Loss Prevention Strategy...
First off...thank you to the over 73,000 folks who have stopped by our blog....we appreciate it !!!
Losses occur every day in retail business. They may either occur through the abuse of the company’s policies, vandalism, employee theft, fraud or shoplifting. No matter the causes of the revenue shrink, one needs to take appropriate steps to counteract it. The foremost way is by implementing retail loss prevention plans.     

Let’s have a look at the concepts to implement that can help you protect the business its profit:
Talk to the management
You need to carefully strategize your approach. To effectively minimize the losses, talk to the management. Get a commitment from them that they will make your retail loss prevention plan a priority.  It will put power into your actions plans and makes sure that enough resources are allocated to you for combating the problem.
Gather data
Collect information regarding your company’s current revenue shrink. How much are you losing each week? Are the numbers going up or down?  Knowing all the facts and figures help you lower the shrinkage more effectively.
Be cautious while hiring
An honest employee is an asset for your company. He will go a long way to reducing the shrinkage. When it comes to new hire, carefully interview the applicants, check their references and also look at the past records.  A simple research can help you weed some candidates that might have been caught doing malpractices in the past.
Monitoring activities at the retail location
Ensure your employees are monitoring cash drawers and also other activities in the store. Not many customers indulge in shoplifting when they think they can be caught. Also, install a video surveillance system and make sure you are monitoring them regularly.
Use a safe to keep the cash
Cash are at high risks for robberies. Do not make easy for the staff to pilfer at your drawer.  Keep the money locked away in the cash safe.
Motivate your staff on handling these problems
Find ways to motivate your staff members to reduce the shrinkage. The loss in the businesses is not solely your loss. Your team also suffers. So clearly communicate your goals with them. Open up with them so that they can come with new ideas. Also, offer an incentive to those who contributed the most.
The Loss Prevention Academy offers online, e-learning training programs for retail sectors. Our courses are written by professionals that have years of experience in the industry. Call us for more details or email us your queries. We will be happy to help you.
Have a great weekend...

Steve


LPDT, LLC offers the only E-Learning training for Retail Loss Prevention at www.LossPreventionAcademy.com.  Check out our awareness posters for shortage and safety at www.LPPosters.com. You can follow us on Twitter under LPACADEMYcom and Facebook under Loss Prevention Academy.

Wednesday, August 5, 2015

5 Common Fears that Spark Denials..

Guest Blog article by Shane Sturman with WZ !!!

First off,  thank you to the over 72,000 visits to our blog.  We appreciate the support. 

As you know, we have partnered with the industry leaders in Interviewing and Interrogation to develop a 10 hour online course on their proven methods by WZ.  Below is a guest blog article by Shane Sturman, President of WZ.  Enjoy...

You can see their online course at www.LossPreventionAcademy.com.


5 Most Common Fears that Spark Denials
By Shane Sturman, CFI, CPP

It would be hard for any of us to imagine the many different fears or the strength of those fears a guilty subject must have during a well-planned interrogation. I think it would be very rare for a subject to have just one fear. Although there is probably one fear they are focused on most, I believe an interrogator must plan on dealing with multiple fears. It must be noted that the fears a subject has during a business-related interrogation can be much different than during a police custodial interrogation. First, I will discuss the five most common fears during a business-related interrogation. Then, I will show the difference in the order and cause of the change in fears during a custodial interrogation.

1.     In a business environment, the first two fears are relatively close. However, I have found that for the majority of employees, their greatest fear is embarrassment and what others will think of them. This is why it is so important that we give the subject the opportunity to save face. If you do everything else right, but fail to allow them to save face, you are very likely going to be dealing with denials. We must keep in mind that this fear reaches beyond the workplace to friends, family, church and community.

2.     The second most common fear is loss of job. These first two can be reversed based on age, title, how long they have been employed, licenses they may have and even the job market. If you take a manager that has been employed at a company for ten-years and they are terminated for theft, how can they explain where they have worked for the past ten-years? This is much different than a person just entering the job market. The seasoned manager must consider not only their current job, but future employment as well. We must also consider any special licenses or certifications one must maintain for their job that could be revoked if their guilt is admitted or proven.

3.     Prosecution in a business environment is usually down the list at number three. The reason for this is that the dishonest employees have not even thought about their actions in terms of criminal activity. If they would have, perhaps they wouldn’t have committed the crimes in the first place. If you are talking with someone that has prior criminal history, this fear can easily jump to number one. It is very important that the interrogator avoid saying anything that enhances this fear. It is much easier to overcome the first two fears than this one because if the person is prosecuted, the first two fears of embarrassment and loss of job are almost guaranteed. Therefore, the interrogator would have to overcome all three fears.

4.     Restitution can be a significant fear if the subject is responsible for a major financial crime. Often these crimes happen over a long period of time and the subject has spent most or all of the money. Now they are fearful of having to pay it back knowing they will not have a job once they have been terminated and possibly prosecuted. To recover the loss, it is common to file a civil lawsuit that could result in the sale of all their assets for repayment.

5.     If we are dealing with employees from tougher neighborhoods and there are multiple employees involved in the theft; their biggest fear could be that of bodily harm. We all know the saying, “snitches get stitches”, and their greatest fear might be what others think they might be saying. In these types of cases, it is easier to talk with them off site if policy allows, so no one knows who is being interviewed.

In a police custodial interrogation, prosecution moves to the top of the list. The subject has been arrested, handcuffed, transported in a police vehicle and is sitting in some type of a locked room/cell and finally read their rights before they are interrogated. Therefore, the fear of jail/prosecution has been very real from the time they were picked up. Even the introduction of the subject to a detective can heighten these fears. When the interrogation is non-custodial, there are still reminders of punishment everywhere if the interrogation is conducted at the police department. I think it is easy to see why police interrogations can be a little more difficult. Not only are there many reminders of punishment, but it is likely the subject also has one or more of the fears listed above that the interrogator must deal with other than prosecution.



Have a great week...

Steve

LPDT, LLC offers the only E-Learning training for Retail Loss Prevention at www.LossPreventionAcademy.com. Check out our awareness posters for shortage and safety at www.LPPosters.com. You can follow us on Twitter under LPACADEMYcom and Facebook under Loss Prevention Academy.

Thursday, July 30, 2015

Deterring Employee Theft...

Deterring employee theft- loss prevention strategies to curb the urge to steal
Combating employee theft is one of the major issues a retailer faces. It is a problem in all types of businesses. If the issue is handled efficiently, it can help deliver strong returns. Prior looking into the methods that can handle the problem; let’s have a look at the main things that tempt them to steal:
• The staff member is prone to indulge in such things if they have any family issues or are under debt. 
• If they are not paid well. 
The opportunity: Poor management of merchandise is another factor. Poor procedures or lack of reporting gives the employees chance to steal. 

So, therefore, it is relevant to curb all the practices that give employees an opportunity to steal. Be open with your team so that they can share their problems with you. Also, make sure they are paid well as per their capability. Dissatisfaction will increase their urge to steal. 
                                       What to do?
Identify: Review processes where there is a high potential of theft like cash bills, stock handling, deliveries, asset handling, data and information access. 
Measure: Introduce measures to highlight fraud. Restrict stock and assets information. Make sure you are available in the store to check and sign off the deliveries.  
Segregate: Segregate the departments within your team. Do not let one person handle everything. Make sure you regularly monitor their work. 
Employee education: Make sure your team knows how to identify and deter theft.                 
                                       Other important measures
Keep the proper count of the stock. Check against delivery information and purchase orders. If you find any discrepancies in these, inquire about it there and then.
• Also, make sure your warehouse employee check all the goods against the documentation. 
• Check the goods that are fully received. It will highlight any cheating in transit and dispatch. 
Here are the simple steps that can help you prevent internal theft. Safeguarding your store from internal vandalism is very important. However, doing this is not that easy as it sounds but small measures and vigilance on your part can help you handle the situation effectively.  
Loss prevention strategies are a must to keep your business away from such malpractices. It is where Loss Prevention Academy can help you. We offer online training programs for retail loss prevention. The courses we offer were written by industry professionals with over 100 years experience.


LPDT, LLC offers the only E-Learning training for Retail Loss Prevention at www.LossPreventionAcademy.com. In addition,we offer a FREE job and resume posting board for Loss Prevention at www.LPjobsFREE.com. Check out our awareness posters for shortage and safety at www.LPPosters.com. You can follow us on Twitter under LPACADEMYcom and Facebook under Loss Prevention Academy.

Company News - Press Releases