According to the National Retail Federation, retail stores lost $61.7 Billion in stolen goods in 2019 across the United States. Due to the rising amount of theft, Loss Prevention Specialists are becoming more important to many retail stores.* Many major retailers, like Target, Wal-Mart, and malls, hire Loss Prevention Specialists (LP Specialists) to manage ‘shrink’, the loss of goods due to theft.
Duties and Job Details
Loss prevention is a thrilling job and involves a lot of detective work. Most LP Specialists work in indoor retail stores. Some LP Specialists work in uniform, while others dress in street clothes. All LP Specialists look for shoplifters and must be aware of how they attempt to steal stock. They may work on the store floor, keep an eye on customers on a close-circuit camera, or split their time between the two tasks.
Not only do LP Specialists look out for customers trying to steal stock, but they also look out for employees trying to steal. They use sting operations and gather evidence to catch employees suspected of theft. After a successful investigation or sting, the LP Specialist may be tasked with calmly and safely detaining the culprit.
Depending on the theft, Loss Prevention Specialists may also work with local police. LP Specialists will work with the store management and law officers in the store to catch culprits. After taking a suspect into custody, loss prevention may contact local police so they can arrest the person. If the store chooses to press charges, the LP Specialist can serve as a witness in court.
Traits of a Good Loss Prevention Specialist
Loss Prevention Specialists must be ready for anything. Shoplifters may become upset, try to flee, or even to maim when they are approached. Because of this, LP Specialists must choose their words with care and be ready to defend themselves.
People who work as LP Specialists usually have shifts during normal retail hours. This means they may work weekends, evenings, and some holidays. Because of this, they must have flexible working hours.
Is the Job Right for Me?
If you enjoy criminal justice and detective work, Loss Prevention may be the right field for you! It may also be the right position if you enjoy retail work and are looking for an exciting and rewarding job.
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*Source: National Retail Federation