In LP Magazine‘s November-December 2015 issue, Mike Silveira, vice president of loss prevention at CVS Health, discusses how he began his career as a store detective at Ames Department Store. Working his way up the career ladder with Home Depot before moving to CVS gave him a great appreciation for all levels of the organization, which to this day makes him want to stay connected to the field even as he heads the LP function at corporate headquarters.
“Despite our very effective field structure, I also think it’s important for me to personally get out in the field regularly to keep close tabs on what’s happening in the stores and what’s happening in the market,” he told James Lee, LPC, LP Magazine’s executive editor. “I’m the kind of leader that likes to be involved, likes to understand the details, and knows the importance of sticking close to the stores.”
What advice does Silveira give young people about moving forward in their careers? “I think what’s most important is to have a good work ethic. And that includes the professional life of a driven person balanced with home life,” Silveira said. “There’s a tremendous amount that you need to learn before you take on a leadership role. It’s very important to be patient. Learn as much as you can about the industry – the roles, strategies, techniques, organizational structures, and the business side of the house. Understand budgeting, forecasting, and shrink budgeting for the front of the store as well as for anything specialized the company does, such as the pharmacy in my case and the many facets of the Caremark side of the business.”
He added, “I think being innovative and reinventing yourself every years is also a key component. Being an outstanding leader, who is fearless and willing to take risks, is also an extremely important attribute that helps you succeed in this industry.”
Read more of Lee’s interview with Silveira as they take a close look at the challenges and opportunities inside the drug-store retail segment.