Risky Business Choices Aren’t So Risky When The Free Loss Prevention Calculator Is Used

A free Loss Prevention Calculator helps store owners see what the return on an investment in a Retail Loss Prevention System would be without spending anything to look into it. Shoplifting costs stores money through stolen merchandise and the loss of business when a customer can’t locate the goods they came into the store to purchase. It also takes an additional toll when a shoplifter picks up an item and then returns it for cash or a gift card. Nothing like paying for your own stuff is there? Is there a risk in spending money on a Sensormatic System? Is it a good idea for a business owner to take a risk in investing in something without assurance it will pay off? I know of one example of a calculated risk taken that has paid off.  
     

About three years ago, my Alma Mater, Coastal Carolina University, made what appeared to be an unusual investment for a school, they sponsored a NASCAR driver in the truck racing series. There was no equivalent to the Loss Prevention ROI Calculator for the University to refer to before attempting this venture. Not many schools would make such a partnership but the deal has been beneficial to the driver, Brandon Brown (a Coastal student and alumni), his team and Coastal Carolina. The sponsorship helps the driver and his team cover the expenses of travel, salaries and vehicle maintenance. The return on investment for the school is the national recognition the school receives every time Mr. Brown, his truck and now Xfinity series race car are viewed on television. In a feature page on Coastal’s website in a story by Brent Reser, “In The Fast Lane”, Bill Plate, CCU’s Vice President for University Communications, pointed out the benefit of the sponsorship for Coastal with the school’s Chanticleer logo prominently displayed. “It is no different than a billboard except this billboard moves up and down moves up and down I-95”,  Plate says referring to the trailer marked with Coastal insignia that transports Brown’s vehicle”…Plate goes on to say, “Then on race day it is a billboard that goes 180 mph…” NASCAR is a hugely popular sport and is watched all across the nation so the attention garnered aids in recruiting new students. It is also helpful to the CCU athletics teams in recruiting efforts to make the school competitive on the highest levels. It was a risky move that has turned out well for the University.
     

The Loss Prevention ROI Calculator gives retailers the ability to see how adding Loss Prevention system to their store will add security that reduces shrink without taking a risk. Click on the ROI calculator on the top of the Loss Prevention Systems Inc. home page and enter two key pieces of information, your estimated annual sales and the amount you would spend on a Sensormatic system. The calculator has a built in shortage reduction factor so it will give you the estimated number of months it would take for a system to pay for itself. In other words Loss Prevention can pay for itself. The Loss Prevention ROI Calculator removes any and all risks a store owner takes in the purchase of a Sensormatic security system by showing the benefits it will provide.
     

As a former Loss Prevention Manager with over 27 years of retail experience I have first-hand knowledge that Checkpoint systems work. I have seen top theft departments drastically improve in shortage performance after Sensormatic tags and labels were used on merchandise. I have complete confidence that after using the Free Loss Prevention Calculator you will see that your business can see similar shortage improvement. 
     

Adding a school logo to a racing truck and car was a calculated risk for CCU. There was no way to measure what the impact would be prior to sponsoring the team. Adding a Sensormatic security system to your store doesn’t need to be a risk. The Free Loss Prevention Calculator gives a realistic expectation of how much store owners will save in reduced inventory shrinkage. Decreased shrink means more profit and merchandise in the store for customers to purchase and THAT is something to crow about!

 

For more information on the Loss Prevention ROI Calculator contact us or call 1.866.914.2567 today.


 

Train Employees On Sensormatic Security Systems And Store Operations To Improve Profitability

Does the way you manage your employees have an effect on how much they try to stop shoplifting in your store or how they perform their jobs for that matter? Do poor work habits ever carry over from a previous employer they had that don’t work in your store? Sometimes we recruit and hire a new worker based on the experience they bring from working for another retailer. It seems like a good idea, they won’t need a lot of training and if the other employer didn’t fire them they must be a good worker. I was talking with one of my sons the other day about his work and he was relating about issues they are having with a co-worker. This employee came from a big box retail store that sells groceries among everything else a customer may need. It seems some of the “tricks of the trade” grocery stockers used there are showing up in my son’s grocery store, tricks that they do not permit in this company. Cases of canned goods are left in the boxes and placed on the shelf. If there is overstock merchandise rather than sending it to the stockroom it is being shoved on top of other merchandise or facings are adjusted to accommodate them. My son says that the department manager has talked to the new employee about this and my son has tried to point out what he is doing wrong but he is not improving. Managers, do you have “talks” with your employees or do you spend time training them and coaching? How about your anti-theft procedures? Are you taking time to actually train your employees on how to respond to a Sensormatic security system alarm? Do you show them how to tag merchandise with security labels or hard tags to prevent theft? Talk is cheap so the saying goes. Training and coaching is not, it is time-consuming and it can be tedious but if done correctly the rewards are tremendous.
     

Can training relate to theft prevention and store operations? Absolutely it can, just as shortage, store operations and profits are all directly tied to each other. Try running a store where shortage related to theft, operational errors and vendor mistakes is left unchecked. Store shelves go empty, replenishment of products is slow and inconsistent if it happens at all and sales dry up as shoppers leave for lack of products or variety of products. Training of new employees must not be a quick 10 minute lesson on the cash register or salesfloor. It has to be a detailed, comprehensive list of job responsibilities that someone has to spend time on demonstrating and then letting the worker go hands on. AFTER a training checklist has been completed supervisors then have to monitor performance and provide feedback as the employee begins to do the job solo. Is merchandise being placed on shelves or hung up according to YOUR expectations? Do you want clothes hung up and sized? Do you have a height level you are allowing canned goods to be stacked? Do you want Sensormatic security system tags placed on a uniform location on clothing? All of these things are important to how the store operates.
     

Stacking cans too high or “making space” on the shelf for overstock can impact how much other product is placed on the shelf or impede a customer’s ability to take a can from a shelf. Clothing not sized or grouped properly may throw off your ability to order more of a certain size of product. It could also bleed over to sloppy habits and racks becoming unshoppable or sloppy. Customers may be turned off or frustrated having to search through fixtures and choose to leave rather than buy a new item. Inconsistent placement of security tags can lead to a reduction in theft deterrence (crooks tend to leave merchandise alone when they see tags) and an increase in false electronic article surveillance alarms. If cashiers don’t know where tags are or don’t see them they may forget to remove them or deactivate them. Too many false alarms and employees get complacent with alarm responses and the alarms no longer stop shoplifting.
     

When time is taken to properly train and teach, employees are more confident in what they are doing and it makes them happier. Happier employees take pride in their work they understand the impact of what they are doing and take a real interest in how to stop shoplifting and how the Sensormatic security system works. They care about product placement and appearance.  While they own much of their success you and your management are responsible for it too. Do it right and watch your store grow and keep turnover low. 

 

Need information on Sensormatic security systems? Give us a call at 1.866.914.2567 today.

 

TRAIN YOUR MANAGERS TO STOP SHOPLIFTING AND OTHER FORMS OF LOSS

You’ve invested thousands of dollars in all the new whiz-bang anti-theft products on the market and you still see shoplifting losses hit your P+L weekly. Could it be that the products just don’t work? Probably not. More than likely, your staff, specifically your managers, could use some training to get the most return out of our loss prevention investments. So, what do you do and how do you train your managers to Stop Shoplifting?

The first step really is more philosophical than anything tangible you can do, or purchase. It’s building a culture in your business that theft, whether it be customer theft, or Employee Theft, is something that is not tolerated. Your managers must be promoting loss prevention awareness topics daily, just as they discuss your sales goals and store promotions. Loss prevention has to be finely woven in the fabric of your company for any physical controls to be effective. 

This is something, that as an owner, you have to make important. All too often, I see store teams treat loss prevention as “something extra” they have to do. That’s simply just not the case. If you want to Stop Shoplifting and reduce Employee Theft, I’d start with a few simple suggestions. 

1. Be open and have frank discussions with your teams about the consequences of stealing from your store. They should be aware of the bleak outcome of any employee that is caught stealing. 

2. Never go easy or turn a blind eye to a thief. Not only will this make you and your store a soft target, it will start a snowball effect that you’ll never recover from. If employees know that they can give a sob story to you after you catch them stealing money, you’ll find that you’ll be making loans for years to come…

3. Prosecute everyone, no matter what. This is how you really slow down Employee Theft. Everyone has to understand there are consequences for their actions. The same goes for every shoplifter that you encounter. 

4. Conduct routine training with your managers at least once a month to refresh them on your expectations, their responsibilities and to discuss any trends in the store. 

5. Put together training material that can be easily referenced by your managers. 

While there will never be a secret recipe to completely Stop Shoplifting and Employee Theft, a small investment in training on your part can pay off in large dividends down the road. Remember, if you treat your managers and employees with respect, make your expectations regarding loss prevention clear, and operate your business with loss prevention practices on the “front burner”, you will see that losses by theft will not be an issue. 


For more information about Employee Theft, contact us or call 1.866.914.2567.