According to the National Association for Shoplifting Prevention, shoplifters steal more than £8 billion in merchandise every year, or more than £22 million every single day. More than half of adult shoplifters say it would be hard for them to stop even if they got caught, and habitual shoplifters steal an average of 1.6 times per week. Loss prevention managers have the difficult job of stopping this rampant crime.
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A loss prevention manager’s job is to protect the merchandise of his employer. He does this by studying his store's customers, employees and records to watch for suspicious or illegal behaviour. If he does spot a crime taking place, he must apprehend the criminal and turn him over to the authorities. The best loss prevention managers are proactive by developing facility standards and investigating new security technology. They also train employees to spot fraud and stop theft.
A loss prevention manager must have excellent analytical skills to quickly analyse a situation and determine if a crime is taking place. Excellent communication skills are also important for a loss prevention representative to properly interact with her staff, interview suspects and train employees. To properly use all the tools at her disposal, a loss prevention manager must have a thorough knowledge of the latest computer and video technology. She must also be familiar with criminal laws and how those laws apply to her job.
According to the U.S. Chamber of Commerce, employee theft actually costs U.S. employers £13 billion to £26 billion per year. Loss prevention managers face the challenge of stopping employee fraud by poring over financial records, checking computer systems and studying security recordings. Unarmed loss prevention managers also face the tough challenge of apprehending combative criminals.
Loss prevention officers work in retail merchandising. They often spend their workday studying security monitors in a office, but they may also search through computer records or patrol the premises on foot and in a vehicle. Loss prevention officers work in settings ranging from shopping malls to department stores to jewellers to grocery stores.
According to Salary.com, the median salary for a retail loss prevention representative is £24,313 per year. The bottom 10% make £17,398 per year, and highest 10% make £34,017. This position usually requires only a high school diploma. Salary.com also lists information for regional retail loss prevention managers, who are in charge of a number of different stores. A regional retail loss prevention manager should have a bachelor’s degree and makes an average of £47,855 per year.
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