Lost in Transition

I just read the latest “Loss Prevention Magazine” and I am amazed at how many loss prevention executives are losing their way to really focus on what needs to be done to combat the current situation facing retailers across the world.  I broaden this statement by saying a large portion of our retail executives have lost their way as well. They are not focusing on what must be done to get things done to restore our economy and bring back the success they once had in the market place. Instead they are all in a safety posture to try and weather the storm instead trying to beat this downturn and come back stronger in the future.

Dealing with a down economy and slumping sales is a hard spot to be in these days. With shrink numbers rising and theft occurrences on a dramatic rise, cutting back on loss prevention is a fatal error which are going to cause some long lasting effects to some of our once largest and most successful retailers in the world.

I think the shift into a new age of business has been overlooked and companies are making critical management errors when dealing with cutting back on programs to help align bottom line interest.  While everyone knows a company’s responsibility is to protect the shareholder’s interest, making decisions which could decapitate the company as a whole in my opinion is not an effective way to transcend past these current economic problems. Cutting back on marketing, cutting back on hours of critical sales associates, and eliminating your security staff would not be my way of trying to build my business. I know it is unheard of in the retail industry but I think executives really need to think about reinvesting into their business and focusing on the essentials.  I would cut back on all the top heavy aspects at the corporate level.  I look at it like I look at why the military has so many issues because there are to many “Chiefs” and not enough “Indians” to get the job done.  The people on the ground will make or brake your company not the 30 purchasing executives who all earn enough salaries to staff ten stores with full time hourly staffs. 

In the end, I think a lot of common sense has been lost in transition from the old days of business to today’s retail industry.  I recommend people wake up and take charge before it is too late.

For more information contact me at jeremyfetzer@priorityfocussecurity.com.