Loss prevention—also known as asset protection—is an ever-broadening, ever-growing field that has a lot to offer an entry-level job seeker. According to the Loss Prevention Foundation, the industry’s “wide spectrum of career options and tremendous potential for professional growth” make the job a rare find in today’s labor market. And the projected job growth—5 to 8 percent between 2014 and 2024—is on par with other industries, according to the Occupational Information Network (O*NET). It’s worth a closer look. But just what does a loss prevention associate do, anyway?Industry OverviewLoss prevention was once primarily responsible for the physical security of a retail space. LP once used to guard exit doors and stop shoplifters. However, many people are still under the misconception that this is still the LP associate’s dominant function, which is far from the case today.Contemporary loss prevention professionals still maintain responsibility for retail security. But they also must handle employee theft issues, data protection, safety and risk management, inventory audits, legal compliance, and matters related to organized retail crime and fraud. It’s more appropriate to say that loss prevention has evolved into a core business function that plays a crucial role in protecting the profits of the world’s largest retailers.- Sponsor – As an early-career associate, the loss prevention associate job description may not include all of these functions right away. Nevertheless, it’s important to recognize from the outset that such responsibilities eventually fall under the domain of the loss prevention department in many organizations. If an entry-level job seeker chooses to progress and grow in an LP career, he or she will want to be aware of and conversant with all these business areas. It’s never too soon to start learning about them.What Does a Loss Prevention Associate Do? Job Titles and ResponsibilitiesGenerally, an entry-level job title in LP is the “loss prevention associate.” However, the evolution of the field and responsibilities contained therein means that titles can change to reflect that. Alternative titles for entry-level LP jobs could include:Loss prevention and safety specialistAsset protection specialistLoss prevention agentLoss prevention security guardRecovery associateJob parameters for a loss prevention associate will vary depending on the particular retail organization. However, by and large, all loss prevention associates are expected to work in harmony with the rest of the retail team to achieve store objectives for preventing theft and ensuring safety. Sometimes LP associates assist in processing inventory and merchandise returns as well.A careful review of recent job postings for loss prevention associates on LPjobs.com—the premier job board for loss prevention postions—reveals that the role can entail some combination of the following responsibilities:Provide quality customer service and positive shopping experiences to deter theft.Respond to customer and associate incidents where safety and/or company liability may be concerned.Work with investigators or other LP/AP team members to investigate criminal violations and/or recover stolen merchandise.Monitor inventory shrinkage and follow company procedure to minimize shrink.Perform store surveillance as directed by management, such as maintaining focus on areas of visible shrink.Verify accuracy of merchandise returns.Prepare and maintain comprehensive and accurate documentation for inventory, merchandise returns, customer accidents, apprehensions and recoveries, and more.Perform minor repairs around the store.Learn proper safety procedures and train other store associates on these and other LP-related issues, such as inventory control processes.Maintain store monitoring technology and equipment.Review surveillance video and exception reports for possible incidents of theft or fraud.Understand and maintain rigorous compliance with the law and company policy regarding apprehensions, searches and seizures, and the preservation of evidence.Detect and apprehend shoplifters if dictated by company policy.Conduct safety checks and report any hazardous or unsafe activity to management on duty immediately.Successfully complete all asset protection/loss prevention training requirements and certification courses and keep credentials up to date.More InformationA decade or two ago, early-career loss prevention associates did not have many educational resources available to them. They just didn’t exist. Today’s LP associates can access webinars, college programs, and even resources like LP Magazine and the certification courses through Loss Prevention Foundation to gain a better understanding about how the industry works and how LP fits into the bigger picture of business in the retail environment.The answer to the question “What does a loss prevention associate do?” will vary, but entry-level applicants who spend time understanding the job, the retail organization, and the challenges specific to both will find a great deal of opportunity in this space.This article was originally published in 2016 and was updated May 10, 2019. Stay UpdatedGet critical information for loss prevention professionals, security and retail management delivered right to your inbox. Sign up now
8 Best WordPress Hosting Solutions on the Market Today’s theme is do it yourself. You know that saying, “If you want something done right… ” Well, sometimes the status quo won’t bring the future fast enough, so fired-up people have to do it themselves.Even if that means building space stations.As U.S. government support for its space program wanes, NASA is making legal room for entrepreneurs who want to take over.These new private space companies are teaming up to build whole space stations.The European Space Agency is looking for asteroids and other “space hazards,” and amateur astronomers have volunteered their help.On the Web, companies want to serve us our future by monetizing our information. Maybe we’d have a better future if we became our own platforms.What happens if we don’t do it ourselves? We lose control. We get driven around by robots…… and we have to watch out for zombie drones.Image via Shutterstock.Past entries from Read/Write Daily jon mitchell Tags:#science#web A Web Developer’s New Best Friend is the AI Wai… Why Tech Companies Need Simpler Terms of Servic… Top Reasons to Go With Managed WordPress Hosting Related Posts
English football club Arsenal has confirmed that its Polish goalkeeper Wojciech Szczesny will join Italian side AS Roma on loan for one season.”Everyone at Arsenal would like to wish Wojciech well for his time in Italy,” Arsenal announced on Wednesday.Good luck to @13Szczesny13, who is to join AS Roma on loan for the 2015/16 season. Full story: http://t.co/eQSNujDkYA pic.twitter.com/AyjK3idLMoArsenal FC (@Arsenal) July 29, 2015Szczesny, 25, lost his place as a starter during the last season to Colombia’s David Ospina, and so had to settle for playing only in the FA Cup and the Capital One Cup competitions.The arrival of the Czech international Petr Cech from Chelsea reduces the chances of the Polish goalie, who earned 181 caps with Arsenal since he arrived in London in 2006.
EDMONTON – Police in Edmonton have issued Canada-wide warrants for two women allegedly involved in a national auto-theft ring targeting luxury vehicles.Police say the ring originated in Ontario and involves dealerships across the country.It was uncovered following a report in March of two high-end cars being stolen from an Edmonton dealership.Investigators say thieves used stolen or fraudulent identification to apply online to buy the cars and came from out of province to pick them up.Since then, three stolen luxury cars and one truck have been recovered in Saskatoon and another high-end vehicle was found in Edmonton.Police say the total estimated value of the five is about $525,000.Gene Nikota, 45, faces several charges, including fraud and possession of stolen property.Kimberly Barlow, 38, and Jennifer Callihoo, 33, are wanted for a total of 40 auto and identity-theft offences.
OTTAWA – Bank of Canada governor Stephen Poloz wants Canadians to get used to the idea of three per cent interest rates as the new normal, now that the era of rock-bottom borrowing costs is gradually fading away.Poloz raised the benchmark rate last week for the fifth time in just over a year to 1.75 per cent — its highest level in about a decade.He sent signals that future hikes could arrive sooner than previously expected, in large part due to the economy’s resilience and the removal of some business uncertainty following the recent agreement on an updated North American trade pact.Testifying before MPs on Tuesday in Ottawa, Poloz said many adults are used to the lower rates and are too young to remember the much-higher rates of the 1980s, when they climbed into the teens.Poloz says the current rate is still too stimulative for the improved economy and he’s reiterating his warning that it will rise to what the bank considers its neutral range of between 2.5 and 3.5 per cent.He says the pace of future rate increases is still unknown, but he adds the bank will carefully analyze how well the hikes are absorbed — particularly for the many households that have piled on considerable debt in the low-rate environment.“We sought to put more emphasis on the notion that someday we’re going to be back at neutral — and that neutral is 2.5 to 3.5 per cent — so that people would begin to digest that as an approaching fact,” Poloz told the House of Commons finance committee.“It shouldn’t be a hard thing for people to service their debt at those kinds of interest rates. But if people have overextended themselves, given the low interest rates, then we’ve got a transition issue. That’s why we’re putting so much emphasis on that and analyzing it so carefully, and choosing our pace as we gather the data.”