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LPM Media Group (LP Magazine) Hits Major Milestones as the Leading Loss Prevention News Provider

Loss Prevention

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May 26, 2016

For over 15 years, LP Magazine has been the central and premiere resource for news and education for the loss prevention/asset protection retail industry. In the last 6 months, LP Magazine has grown its digital platform exponentially beginning with the launch of its new digital platform which includes more original content and daily news, reports that feature news and content valuable to the industry, an industry directory for easy access in loss prevention solution providers and much more.

As a result, LP Magazine has seen tremendous growth, including:

112% increase in pageviews on the website with over 280,000 page views since new site launch.
Increased engagement with 97% reader retention rate**
Over 10,000 social media followers across LinkedIn, Twitter and Facebook, with the top ten posts receiving over 2,300 shares
Over 250,000 emails opened – including content such as news, reports, events and magazine issue highlights and spotlight articles

“It’s an exciting time at LP Magazine, as we’ve been laser focused on not only creating great, quality content that is of value to our reader – but doing it through various outlets in a smarter, more quality-driven way. We are a true multi-platform media brand, and that momentum is even more exciting in our 15th year in publication…that we just keep getting better,” said Jim Lee, CEO and executive editor.

Managing Editor/Partner Jack Trlica echoed this momentum, particularly heading into the planning and preparation for the annual Editorial and Vendor Advisory Board meeting held in September.

“We’ve never been a boastful brand – instead focused on doing the best job we can in providing loss prevention news and education for the industry. But as we plan for this year’s annual meeting, it feels extra special to go in with great growth and momentum, and to work with our vendor and editorial board members and celebrate 15 years with an eye towards the next 15.” said Trlica.

LP Magazine holds its annual meeting in September with its Editorial Board members – consisting of over 25 loss prevention retail executives – and key solution providers whom sit on the Vendor Advisory Board. There, this group discusses what’s next for the industry as a whole and how the media brand through its content, resources and communications expertise can fuel the industry forward.

This year’s annual meeting will be held in Sanibel, Florida. For more information on how you can become involved with the Editorial Board or Vendor Advisory Board, contact lpmag (at) lpportal (dot) com.

*Year/Year Comparison as Reported and Verified by Google Analytics
**Verified by WhatCounts (email distribution platform)
***Data Verified by WhatCounts Analytics platform, 11/18-5/25 Aggregate Opens

Brett St. Martin Promoted to LP & Operations Support Director at Lowe’s Companies, Inc.

News Releases

Loss Prevention Media

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May 26, 2016

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Brett St. Martin Promoted to LP & Operations Support Director at Lowe’s Companies, Inc.

Brett St. Martin has been promoted to Loss Prevention and Operations Support Director at Lowe’s Companies, Inc. Brett began his loss prevention career with Lowe’s in 2003 as a Loss Prevention Specialist, taking on roles with increasing responsibilities as a Loss Prevention and Safety Manager and Market LP & Operations Support Manager prior to his most recent promotion. Brett has also attended the University of Phoenix and San Diego State University-California State University where he studied Criminal Justice.

Congratulations Brett!

People on the Move: May 2016

Professional Development

Loss Prevention Media

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May 25, 2016

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Professional advancement and building a successful loss prevention career can mean many things to many different people. For some individuals it may mean reaching a top leadership position at a particular company, perhaps serving as a director or vice president of loss prevention/asset protection. For others, it may involve gaining experience in multiple professional fields in order to establish a unique and versatile role that capitalizes on all of our various skill sets. Some aspire to be the very best at a particular skill or discipline, building a base of knowledge and expertise that sets us apart from the rest. There are those that strive to leave a professional legacy, leaving a lasting mark on the present and future of the loss prevention industry. And there are still others that simply want the recognition that comes with reaching a particular level of performance and the security that it provides.

There are many different ways to evaluate our career vision and professional aspirations. But what is most important is that we find the path that fits us best. We need to fashion and follow a professional development plan that leads us forward and builds our future. Especially when involved in a profession that is evolving as quickly as retail loss prevention, career growth is essential to professional survival. Whatever our professional goals and aspirations might be; whatever skills and experiences have helped forge our personal loss prevention career path, we have to find and seize the opportunities to learn, grow, and progress.

All of us throughout the loss prevention community are proud of the accomplishments of those that have worked hard and earned a new place along the loss prevention career path. Please join us in congratulating the following individuals on their recent career moves and promotions.

May 2016

James H. Kendall, MS has a new position; Lead Business Partner, Organized Retail Crime Special Investigations – Target

Adam Kupchella has a new position; Senior Director of Assets Protection – Target Stores Click here to learn more

John Pappas has a new position; Senior Regional Loss Prevention Manager – New York & Company

Pam Nuzzo has a new position; Investigations Coordinator – Burlington Stores, Inc.

Jesse Young has a new position; Corporate Loss Prevention Manager – Charlotte Russe

Bradley Zaretsky has a new position; Regional Loss Prevention Manager – CVS Health

Jake Sawyer, CFI has a new position; Area Loss Prevention Manager – Bed, Bath & Beyond

Adam Myers has a new position; Regional Loss Prevention Manager – HVHC Visionworks

Alexis Flores González has a new position; East Coast ORC Manager – Abercrombie & Fitch

Kevin Uhe has a new position; District Manager of Investigations – Macy’s

Stefanie Hoover, CFI has a new position; National Account Manager – CONTROLTEK USA

Caglar Ari has a new position; Sr. District Manager ; Asset Protection UK / Ireland – Abercrombie & Fitch

Sassy Sarr has a new position; District Manager , Asset Protection – Abercrombie and Fitch , France

Stan King, CFE has a new position; Corporate Loss Prevention Manager – Shortage/Audit at Navy Exchange Service Command (NEXCOM)

Brad Bullock has a new position; Corporate Loss Prevention Manager – The Home Depot Click here to learn more

Kathleen Eaton has a new position; Vice President of Asset Protection – The Home Depot Click here to learn more

Leo Anguiano, LPC has a new position; Senior Director of Loss Prevention – Dollar Express Click here to learn more

Robert Street has a new position; District Loss Prevention Manager – Burlington Stores, Inc.

Matt Hollingsworth has a new position; District Loss Prevention Manager – HomeGoods

Mike Triesch has a new position; National Loss Prevention Program Director – Nordstrom

Brad Bullock has a new position; Corporate, Loss Prevention Manager – The Home Depot

Emy Johnson has a new position; Director, Theft & Fraud Operations Assets Protection – Target

Randy Nickerson has a new position; Managing Director of Loss Prevention, Audit & Firearms Compliance – Dunham’s Sports Click here to learn more

Troy Ware has a new position; Market Asset Protection Manager – Walmart

Dave Norville has a new position; Area Loss Prevention Manager – Bed, Bath & Beyond

Sonia Haro has a new position; District Loss Prevention Manager – HomeGoods

Justin Voss, LPC has a new position; District Loss Prevention Manager – DICK’S Sporting Goods

Jennifer (Gisbert) Reutgen has a new position; District Loss Prevention Manager – Sephora

Mary Ross Cuestas has a new position; Multi-Unit Asset Protection Manager – Walgreens Boots Alliance

David Arena has a new position; Regional Loss Prevention Manager – Payless Shoesource

Chuck Lindow, LPC has a new position; District Asset Protection Manager – Rite Aid

Jonathon Burris has a new position; Regional Director, Asset Protection Solutions – Walgreens

Dale Loope, SRT, ATO has a new position; Retail Loss Prevention and Safety Business Partner – HSN

Rob Barker has a new position; General Manager, Las Vegas – Protection 1

Jim Cannon has a new position; Commercial Sales Manager, Charlotte – Protection 1

Mike Hansen has a new position; Branch Sales Manager, San Diego – Protection 1

Tatum Mathis has a new position; Branch Sales Manager for Wichita – Protection 1

James Grinevics has a new position; Sr. Regional Loss Prevention Manager at Forever 21

Allan Watters has a new position; Senior Vice President of Asset Protection – Stage Stores Click here to learn more

Omar Kahn has a new position; Senior Manager, Forensics – Hilton World Wide (Information provided by Loss Prevention Recruiters)

Zachary Smith has a new position; Director, Loss Prevention and Corporate Security – Lucky Brand (Information provided by Loss Prevention Recruiters)

Marc Abramson, CFI has a new position; Regional Loss Prevention Manager – ULTA Beauty (Information provided by Loss Prevention Recruiters)

Wally Crosno has a new position; Sr. Manager Investigations – Kohls (Information provided by Loss Prevention Recruiters)

Jason Crisp, CFI has a new position; Regional Loss Prevention Manager – Sally Beauty (Information provided by Loss Prevention Recruiters)

Chance Bowlin, CFI has a new position; Director of Loss Prevention Support – PETCO Animal Supplies, Inc. Click here to learn more

Joseph Biffar, CFE, CFI has a new position; Director, Loss Prevention and Security for Chicos, FAS, Inc. Click here to learn more

Steve Fahey has a new position; Senior Vice President of Operations for New York & Company Click here to learn more

Ken Boremi, CFI, LPC has a new position; Vice President of Store Operations and Loss Prevention at Brookstone Click here to learn more

Rory MacDonald, CFI, LPQ has a new position; Market Asset Protection Manager – Wal-Mart Stores, Inc.

Michael Lynch has a new position; Regional Loss Prevention Manager – Neiman Marcus

Ted Dulles has a new position; Director of Internal Audit – Crate & Barrel Click here to learn more

Ean Bressack has a new position; Vice President of Loss Prevention – David Yurman Click here to learn more

Brad King has a new position; Senior Director of Loss Prevention – New York & Company Click here to learn more

John Watson has a new position; Market Asset Protection Manager – Stage Stores

Jonathon Burris, LPC has a new position; Regional Director, Asset Protection Solutions – Walgreens Boots Alliance

Kate O’Connor has a new position; Group Vice President – Target

John Goldyn has a new position; Loss Prevention Director – BevMo! Click here to learn more

Michael Bruce II has a new position; District Loss Prevention Manager at Kohl’s Department Stores

Michael Jones has a new position; National Investigations Manager – TJX Europe

Garrett Atkins, LPC has a new position; District Loss Prevention Manager – NAPA Auto Parts

Steven England has a new position; Regional Loss Prevention Investigator – LIDS Sports Group

Jason Hobbs has a new position; Area Loss Prevention Manager – JC Penney

Jared Brown has a new position; District Loss Prevention Manager – Sears Holdings Corporation

Ben Borer, LPC has a new position; Director of Loss Prevention Operations/Omni Channel at American Eagle Outfitters Click here to learn more

Tobias Sorrell, CFI has a new position; Area Loss Prevention Manager – Ulta Beauty

To review the April “People on the Move” click here.

Many of the Loss Prevention / Asset Protection career moves and promotions are reported to us by our career advisor partners. We are grateful for their collective efforts and diligence in delivering this information. If you would like to provide information pertaining to a recent promotion or career move that is not listed below, we welcome your submissions by clicking here.

The Brick-And-Mortar Retail Industry Continues to Struggle

Retail Industry

Bill Turner, LPC

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May 25, 2016

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The Brick-And-Mortar Retail Industry Continues to Struggle

As I was beginning to write this article about the retail industry and the challenges it’s facing, I wondered if it made sense in that it will be published in a newsletter that mainly focuses on retail loss prevention. I came to the conclusion that it does make sense and here’s why: in order to be successful in any profession, it pays to know as much as you can about the overall business you are in and how the big picture relates to the future and direction of that business, your specific company and maybe even your own career. So, here goes.

Many brick-and-mortar retailers saw drops in sales in the first quarter of 2016. Some were significant. Macy’s, JCPenney and Kohl’s stock continue to take hits based on weak performance results. Nordstrom and Gap stock fell as much as 15 percent after posting similar weak quarterly results. It is speculated that decreased mall traffic is negatively affecting some of the big retailers and smaller ones, too.

E-commerce retailing is faring much better, however, with April numbers up more than 10 percent versus 2015. For all of 2015, e-commerce sales were up 15 percent compared to just 3 percent for brick-and-mortar stores.

Because technology is driving the strong e-commerce growth, traditional retail industry brick-and-mortar brands are finding themselves having to quickly adjust their programs and strategies to keep pace. Millennials, whose retail spending power is projected to reach $1.4 billion by 2020, have fundamentally disrupted the shopping process by using mobile technology to compare prices and products on the spot. And older generations are following suit. Because of the “showrooming” phenomenon (comparing price and product in-store, then ordering online), retailers are faced with numerous challenges such as:
• How to obtain an accurate understanding of the customer across numerous retail channels
• How to engage various customer segments given the enormous amount of competition vying for attention
• How to shift legacy business operations and strategies to compete with newer, more fluid business models

It sounds ominous. However, the view from the top is more optimistic than one might think. New research published by the Economist Intelligence Unit showed that when 300 retail industry executives were surveyed, 79 percent described themselves and their companies as “very or extremely prepared” to compete in terms of offering perceived value for money paid. And 76 percent of the respondents reported the same level of confidence in their readiness to compete in product excellence, seamless service and the ability to operate efficiently. However, only 42 percent responded that they were confident in the ability to attract technologically savvy talent in order to compete in today’s retail industry marketplace.

Two themes were common: offering seamless service and providing product excellence that is personalized to the customer where possible. Regarding seamless service, it’s about proactively engaging the customer though intelligent and rewarding experiences. When the research compared high-performing retail industry companies to lower-performing companies, it showed common retail industry trends among the high performers:
• An increasing investment in technology at a rate 2 to 3 times higher than lower performers
• A focus on globalization and moving into international markets
• Forming strategic partnerships to develop stores within stores, leveraging technology and other outside-the-box relationships
• New store formats that integrate digital media into the in-store shopping environment

In the end, it appears that future success in the retail industry is similar to the success in the past. The tools, processes and integrations have just become more complicated and faster-moving. Today and going forward, it’s all about creating a unique customer experience, offering great product at a fair price and make it easier and easier to shop. And, doing it better and faster than the competition.

40 Years of Retail Loss Prevention Research

Magazine Reviews

Kelsey Seidler

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May 25, 2016

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40 Years of Retail Loss Prevention Research

Richard “Dick” Hollinger, Ph.D., is a professor at the University of Florida in Gainesville who studies employee dishonesty and has overseen the National Retail Security Survey for the past twenty-five years. Hollinger, who is nearing retirement, recently spoke with LP Magazine‘s executive editor, James Lee, to reflect on the changes he’s seen in his nearly 40 years of retail loss prevention research.

In the resulting article, which appears as a feature in the May-June 2016 issue, Hollinger reveals his expectations for retirement and his future plans for the National Retail Security Survey. He also identifies trends from recent survey results. From the article:

“Last year, 2015, was the first year that we actually saw shoplifting slightly exceed employee theft as a percentage of the whole. I don’t know exactly what to make of that. I think it probably has something to do with the attention and perhaps the behavior and serious involvement of professional shoplifters—the ORC groups—that are hitting stores and doing some very serious damage to those shrinkage rates. There still is this problem of the internal theft, the dishonest employee, but maybe retailers are doing a better job of controlling internal theft while still being victimized by the professional organized retail gangs.”

Hollinger goes on to address many of the hot topics in the loss prevention industry right now, including how retailers should discourage employee dishonest; the likely influence of organized retail crime in the loss prevention community; and the major changes in LP leadership thinking over the four decades of his career.

Finally, Hollinger offers some advice on recruiting talented young people into retail loss prevention jobs: “Companies have needs, and students have needs. It’s just a matter of putting these two together in the same room and not having to go through some obtuse website for recruiting purposes.”

Read the full article, “Forty Years of Researching Retail Loss Prevention,” or check out the other articles in the May-June 2016 issue. Not subscribed yet? No problem – register here.

Evaluating Counter Offers during a Loss Prevention Career Search

Professional Development

Jac Brittain, LPC

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May 24, 2016

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Evaluating Counter Offers during a Loss Prevention Career Search

As each of us takes the necessary steps to manage our own loss prevention career, there are many factors that weigh on the decision to follow our current career path, or make a change that alters our future and takes us in a different direction. Whether changing companies or simply taking on a job or a role that carries different responsibilities, we realize that these choices can have a lasting impact on our personal lives as well as our loss prevention career, and no such decision should be taken lightly. Even when we know that we are making a strong decision, we can still face the stress and anxiety that comes with change.

This holds true for every candidate as they consider a transition between jobs. During these critical moments of potential change, everyone faces moments of anxiety as they ponder the outcome of a new and different role:

Am I making the right decision?
Will I be successful in my new role?
How will I fit in with my new team?
How difficult will it be to make the transition?
Do I really want to leave the role I’m currently in?
Will I regret my decision six months from now?
How will my new role impact my family and personal life?

This is a very common response, and one that we all face during the job search. At least at some level, change can be intimidating. It may be exciting. It may put us in a better financial and/or professional position. It may be the best possible move. But for those that claim that it doesn’t spike a certain level of anxiety, they’re either a fool—or lying to themselves. It’s simply human nature.

But we’ve made our decision. We’ve considered the position, the compensation, and the responsibilities. We’ve considered how it will enhance our loss prevention career. We’ve discussed it with our family, and feel confident that it is the right choice. We like everything that we’ve heard, and we accept the position. We’ve made the decision to resign from our current company and start our new job effective in two weeks.

The Counter Offer

During such transitions we must also consider that the company where we’re currently employed likely doesn’t want to lose their top talent, and may very well take steps to try to keep you as part of the team. They will want to protect their investment. They will want to maintain current performance and productivity. They will often have succession plans in place that serve the long-term objectives of the department and the organization. Companies will fight to keep their top talent, and as a result, counter offers will often follow.

Counter offers can come in several different forms, to include:

Your current employer may offer you a raise or other financial benefit
Your current employer may offer you a promotion
You may be offered a different role, responsibility, or position that you find appealing
You may be told of future plans that will benefit your loss prevention career in some way
You may be lured with the promise of any of these benefits in the future
Leadership may appeal to your commitment, loyalty, or security
Leadership may invoke doubt, uncertainty, or insecurity in the new role or company

Every candidate should anticipate that this may come at some point during the transition period, either when the resignation is made, or at some point prior to leaving your current employer.

What’s the Right Response?

Every candidate must decide for themselves how to respond to a counter offer. It can be very flattering to hear that your current employer wants to keep you on as part of their team. It may be difficult to turn down a leader or mentor you respect. It may also be frustrating to here these comments or these offers only after you’ve made the decision to leave. But regardless of your emotional response to the situation, the most important question you must ask yourself is, “Why did you make the decision to accept the new position in the first place?

Was it simply about money?
Was it because of the new role?
Was it the company?
Was it the people?
Was it because the new opportunity offered you a chance to learn and grow?
Was it some other reason?
Was it for the right reasons?
Have those reasons changed?

If you’ve made a decision of this magnitude that will ultimately influence the course of your loss prevention career, chances are you already know what the right decision will be for you. Whatever decision you make, be patient and respectful with everyone involved. Stay confident, controlled, and enthusiastic. Don’t allow emotions to interfere with your choices. When our careers are at a crossroad, we want to make sure we are making the right decision. Make an informed decision, make an intelligent decision, and make it for the right reasons.

Officer Brenton Medeiros Receives May 2016 Officer of the Month Award

News Releases

Loss Prevention Media

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May 24, 2016

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Officer Brenton Medeiros Receives May 2016 Officer of the Month Award

The National Law Enforcement Officers Memorial Fund has selected Officer Brenton Medeiros, of the Cranston (RI) Police Department, as the recipient of its Officer of the Month Award for May 2016.

Located in the nation’s capital, the National Law Enforcement Officers Memorial Fund is a nonprofit organization dedicated to honoring the service and sacrifice of America’s law enforcement officers. The Memorial Fund’s Officer of the Month Award Program began in 1996 and recognizes federal, state, and local officers who distinguish themselves through exemplary law enforcement service and devotion to duty. Officer Brenton Medeiros, along with the other Officer of the Month Award recipients for 2016, will be honored during National Police Week at a special awards ceremony in Washington, DC, in May 2017.

Key Facts

On March 24, 2015, Officer Brenton Medeiros was on his way to start his 11:30 p.m. shift at the Cranston (RI) Police Department, driving westbound on I-195 in East Providence, when he came upon flames rising from North Hull Street. Officer Medeiros pulled over and discovered an SUV on fire at the end of the street, which dead-ends into a guardrail, and called 911. Officer Medeiros initially assumed the people he saw standing at top of the street were the vehicle’s occupants, but as he looked closer, he noticed a person still in the driver’s seat. At this point, the flames were quickly engulfing the entire engine compartment of the Range Rover and the driver was not moving.

Realizing time was running out, Officer Medeiros immediately ran towards the vehicle, down the embankment, and scaled a six-foot chain link fence adjacent to the interstate. When he reached the SUV, he found the driver startled and confused. Officer Medeiros removed the driver’s seatbelt, pulled him out of the vehicle, and dragged him 30-40 feet to safety.

“I ran down the embankment and made it over the fence somehow. I don’t think I could make it over again, but I was just lucky, I guess,” said Officer Medeiros. “I’d never dealt with a car fire before, only what I had seen in movies. So I wasn’t sure if the car was going to blow up or what was going to happen.”

By the time the fire department arrived, the vehicle was fully engulfed in flames. The driver, former Nortek CEO Richard Bready, was taken to the hospital and has since made a full recovery.

“In the academy they tell you to be ready for anything, expect anything,” said Officer Medeiros. “But at that moment, I saw the car fire and didn’t know what to expect… my natural instincts just kicked in. It might’ve been my training too. I just did what I thought I was supposed to do.”

Officer Medeiros said the rescue delayed his reporting for duty and notified his shift supervisor that he would be a few minutes late. He minimized his heroic actions, saying only that he had stopped for a “car fire.” It wasn’t until the following morning that the full details of the incident became available through reports by the local media.

One week later, Officer Medeiros was again able to save a life when he administered a dose of naloxone to a 20-year-old Cranston woman who had overdosed on heroin. The victim was found unresponsive, and quickly recognizing the signs of a fatal overdose, Officer Medeiros immediately administered the department-issued medication to the victim, which helped sustain her until medics arrived.

“Law enforcement officers save lives every day in America, but saving two in a single week is extraordinary,” Memorial Fund President and CEO Craig W. Floyd said. “Officer Medeiros’ quick thinking and humility in his heroic actions earn him the May 2016 Officer of the Month Award.”

Adam Kupchella Promoted to Senior Director of Assets Protection at Target Stores

News Releases

Loss Prevention Media

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May 24, 2016

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Adam Kupchella Promoted to Senior Director of Assets Protection at Target Stores

Adam Kupchella has been promoted to Senior Director of Assets Protection at Target Stores. Adam was most recently Assets Protection Market Leader in the Washington D.C. metro area. He began his asset protection career with Target in 2005 and has held positions with increasing responsibility to include Executive Team Leader of Asset Protection, Assets Protection Business Partner, and Assets Protection Market Leader prior to his most recent promotion. Adam holds a Bachelor of Arts degree in Political Science from Dickinson College and a Master of Public and International Affairs, Security and Intelligence from the University of Pittsburgh.

Congratulations Adam!

Part I. Oh, the Places You’ll Go…

LPM Voice

Karen Rondeau

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May 24, 2016

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Could it be that creating an effective awareness campaign begins with your own awareness?As someone who has been directly involved in creating, promoting, and managing internal communication programs for well over a decade, I can earnestly say, “Yes, yes indeed, (98 and ¾ percent guaranteed).”

First Things First

Have you been tasked with creating an awareness campaign simply because it falls into your area of responsibility? Or are you the one who identified the gap in your organization’s communication strategy that raised the need for the awareness campaign in the first place? Whether an awareness campaign is one more thing on your “to do” list or it’s your brain child, it doesn’t matter. Either way, before you create or kick off anything, your own level of awareness about such things as your company’s culture must be solid before you start.

Build Partnerships

Any time you’re going to be communicating something to a wide audience in your organization, you need to make sure key leadership believes in your concept. Even more than that, including them enough in the decision-making process will help them feel some level of ownership. Far too often,we roll out awareness programs prematurely, only for them to be thwarted by a battle of wills between the internal marketing/communications department and the implementing department.

Creative and perfectly branded folks usually have their own ideas of what company communications should look like (that is their job, after all) and the messages they should contain (even if they’re not the content experts). As a result, they may demand to be in charge of producing your awareness programs. However, when you take the time to work up front to build partnerships with your business colleagues (Communications, Human Resources, Operations, etc.), you may find that not only will they offer some good ideas, they may also stand up for your programs rather than try to circumvent your efforts.

A benefit of building partnerships is they can not only save your awareness programs, they can also elevate the credibility of those programs. Who knows? One of your business partners may even agree to pick up part of the tab of a program in order to integrate their messages into your (now expanding) platform. At the same time, as you develop positive alliances with other departments, you prove yourself to be a better business partner – which can prove beneficial in areas well beyond your awareness campaigns.

LP101: Loss Prevention and the Succession Planning Process

Professional Development

The Loss Prevention Foundation

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May 23, 2016

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LP101: Loss Prevention and the Succession Planning Process

Succession planning is a process for preparing people to meet a company’s needs for talent over time. Through the succession planning process, top loss prevention performers are identified based on their perceived growth potential. We then establish a means to develop their knowledge, skills and abilities; and prepare them for advancement into increasingly challenging roles.

While different companies may have styles or approaches that are unique to their particular business, for the most part developmental activities do not dramatically differ from one company to the next. Let’s take a closer look at some of the core components of a viable succession plan:

We have to recognize the need to plan. Our focus should be on building a foundation that supports where the company is going. The strategic plan should reflect where company leaders see the organization 5-10 years down the road, how they feel we will get there, and finding the best vehicle to help us make the journey.
Well-conceived succession management plans should always align with corporate values and strategy. Our plan should incorporate the core of our company developmental programs as well as our focal goals and objectives.
We have to establish our plan without taking our eyes off of the core business, and our role in supporting that core business. By assessing the current corporate culture and how our role will evolve within that culture, we must forecast how we feel it needs to change in the future.
Core competency models for key company and departmental positions are the backbone of any succession management initiative. Our plan should identify and communicate key competencies and design tools to measure those competencies and develop related skills, abilities and experience.
Within the framework of our company structure we should develop a set of leadership criteria and developmental approaches that assess the strengths, weaknesses and succession readiness of our high potential associates, create a depth chart that reflects our evaluation, and modify our plan as deemed necessary and appropriate. By identifying leadership planning gaps we can then develop action plans aimed at improving the efficiencies of high potential employees while ensuring that leadership practices reflect company values as well as long-term goals.
We should incorporate our plan into our everyday business activities. Through continual observations, assessments and training we should challenge key players to better understand their current responsibilities, develop their leadership skills and realize their potential advancement options and opportunities.

Our planning efforts should then be put to paper so that we can approach issues in an orderly, organized fashion. Outlining the important aspects of the plan helps us to maintain accountability by documenting our methods and strategies.

The Depth Chart

An important aspect of succession management efforts is to develop a depth chart for each of our key positions. Similar to the depth charts currently utilized by many sports franchises, the depth chart ascertains the company’s bench strength (or weakness) at each position. After we have listed the “starter,” or individual currently occupying the job, we then rank potential replacement candidates should that position open. Depending on the structure of the company, the opportunities available and the talents of the individual, an employee may be considered as potential bench strength for multiple positions.

Different factors may come into play depending on the company and their approach to the business, the goals and objectives of the current leadership, real and perceived growth opportunities, and the structure and composition of the loss prevention department. However, most programs will evaluate:

• Core competencies/skills/abilities
• Performance metrics
• Leadership, interpersonal and communication skills
• Drive, enthusiasm and flexibility
• Global thought processes and business maturity
• Perceived growth and potential

Continual Assessment

As the needs of the business grow and develop our succession management plans must evolve as well. The loss prevention industry in particular and the retail business as a whole are in a state of constant change. Competition in retail is fierce and companies are continuously modifying their business plans. As new skills are being developed and new roles are being defined, individual performances are stepping up or falling back.

These and many other factors demand that we evaluate our team on a regular and consistent basis or face the consequences of the unexpected or unprepared. While most companies have scheduled evaluation periods, staying ahead of the curve, communicating with your team and maintaining appropriate documentation will keep your plan—and your team—efficient and effective.

By capitalizing on opportunities to enhance our knowledge and education, we are making an investment in our own future. To learn more about investing in your career, succession planning, and the certification process, visit losspreventionfoundation.org.