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UK retail is far more than simply sales through the tills with profits that will follow. Retailers are feeling the pinch, and need to look to bottom line profit rather than top line sales figures.
A percentage of retail store managers and even some board members in many UK retail companies only ever consider stock loss and shrinkage as a percentage of sales, which can seem like a small number. Express stock loss and shrinkage as a percentage of bottom line profit, and see why it's vital to have the best experts at loss prevention and profit protectiion.
Reduction of shrinkage and stockloss will benefit a shops customers, staff and shareholders.
High Street Retail is big business.
The UK shops are a very competitive market, and no retail store can afford to accept stock loss to a greater degree than their competition.
Every retailer, from Boots through to Marks & Spencer, from Asda to B&Q, from Argos to Morrisons, all have a strategy to minimise stockloss. All have employees engaged in loss prevention jobs.
Security resources play a part in Profit Protection, but are not the whole answer. Security Officers (or Uniformed Security Guards and other Loss Prevention jobs), Store Detectives, CCTV (Closed Circuit Television), and EAS (Electronic Articles Surveillance) tagging measures mainly combat external theft (Shoplifting). Security measures will have little or no impact on stock loss and shrinkage caused by poor process and procedures.
SSR - Security, Profit Protection, Audit, CCTV, and Risk vacancies. |
Churchill Security Recruitment -Loss Prevention, Security and Profit Ptotection Manager recruiter. |
Momentum Security Recruitment |
Oasis Recruitment - vacancies for CCTV and EAS sales, project engineers and managers |
SecurityVacancies.com is a security,loss prevention and profit protection recruitment portal. |
Montague Consult recruit Executive and senior leadership roles within the risk, security,loss prevention and profit protection industries. |
Investigator Recruitment - recruiters of experienced temporary and permanent Corporate Investigators, Security Managers and Investigations Management Specialists |
Harrison Jones Associates.Recruiting for the security industry. |
C2C - Fire and security industry recruiters. |
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Profit Protection, Loss Prevention and Security
Supermarkets, Department Stores, Garden Centres, DIY shops are all shopping units where - if left unchecked - shrinkage can seriously cut profit margins.
Gone are the days when the tradtional Security Department was the low budget poor relation within retail. Profit Protection, Loss Prevention, and Security Management are now recognised professions.
Many forward thinking retail companies realise that although they may only lose 1-2% of their stock to inventory shrinkage, this may actually be more than 25% of their profit.
The sites listed above represent the main industry players in recruitment of high calibre Loss Prevention and Security Managers.
The money which makes up total stockloss is often the only free money left on the table.
Having the right people driving and implementing the Profit Protection strategy will dramatically reduce total stockloss and could double a retailer's profit, in addition to a safer working and shopping environment.
In the UK, the latest store crime statistics suggest that total stock loss is made up roughly of 33% Customer Theft ( Shoplifting ), 33% Staff Dishonesty ( employee fraud ), and 33% Process errors (in-correct pricing, short deliveries,booking-in errors et c.).Yet many retailers neglect internal dishonesty and process issues, choosing to spend the majority of their loss prevention budgets on measures to combat shoplifting.
Many retailers have poor processes and expect the customer to pay for them. They also ignore the threat within, which means Internal Dishonesty will grow to endemic proportion, paid for by customers, honest staff and shareholders. CCTV, EAS Tagging Systems, Store Detectives and Security Guarding are a popular solution, and specialist loss prevention consultancy firms such as ORIS have formed strategic partnerships with suppliers. A Head of Loss Prevention or Profit Protection may also consider directly employing professional Loss Prevention and Profit Protection personnel, tailoring their
description and KPI's to meet the proportion of Internal Dishonesty, Process Error and Shoplifting of their business.
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