What Does a Loss Prevention Manager Do?

Learn About the Salary, Required Skills, & More

Young woman in mirror at store

A retail loss prevention manager's characteristic is to shield employer belongings and maintain or improve keep profitability via developing and imposing protection and protection applications for employees and customers. In different words, a loss prevention professional manages "shrink," which is a store's lack of inventory due to theft, error, shoplifting, or fraudulent pastime. A loss prevention supervisor's fundamental regions of focus consist of movements which include shoplifting, vandalism, counterfeiting, theft, burglary, and save protection.

Loss Prevention is a growing discipline inside the U.S. retail enterprise and the most important U.S. retail companies are seeing their loss prevention price range growing yr over 12 months. Take note, but, that even though the need for loss prevention is growing, loss prevention management is a specialized retail career route. As such, it's far typically now not an ordinary rung at the retail corporate ladder this is available to any entry level retail employee.

Loss Prevention Manager Duties & Responsibilities

The inner focus of Loss Prevention Managers consists of coins coping with theft, inventory manipulate, centers and equipment damage, security get admission to violations, fraud, and plenty of audits of worker sports. The loss prevention supervisor has numerous duties and obligations to perform each day as part of the activity, together with the subsequent:

  • Investigate, log, and remedy alleged and real theft, violations of coverage, and compliance issues.
  • Coordinate and speak with management and governmental businesses to behave accurately and legally.
  • Audit web sites to make sure stock is processed, handled, and monitored as it should be, and record any errors or disasters.
  • Develop rules and train team of workers in loss prevention, lessen shrinkage, and use tagging and/or record mechanisms.
  • Minimize the monetary losses of a retail operation associated with robbery, vandalism, twist of fate, and damage.
  • Develop ways to locate protection issues and protection violations and to put packages in place to save you repeat occurrences.

Effectively imposing and handling loss prevention methods and programs is an important a part of stopping the growing hassle of employee and inner theft in some of the most important retail operations.

Loss Prevention Manager Salary

A loss prevention supervisor's revenue varies based totally at the location of knowledge, degree of enjoy, training, certifications, and different factors.

  • Median Annual Salary: $50,000 ($24.04 /hour)
  • Top 10% Annual Salary: More than $seventy six,000 ($36.54/hour)
  • Bottom 10% Annual Salary: Less than $37,000 ($17.seventy nine/hour)

Source: Payscale.com, 2019

The size and sales quantity of the retail operation is a further factor used in determining the reimbursement. Loss prevention managers typically obtain complete blessings applications, which regularly consist of products reductions.

Education, Training & Certification

A bachelor’s diploma in criminal justice is desired, even though other four-year tiers or no degree at all can be perfect with verified success in other retail protection positions.

  • Education: Although no longer required via all employers, many opt for a four-12 months degree in business or criminal justice.
  • Experience: Most employers decide on that applicants have at the least 3 to five years of loss-prevention enjoy in a retail placing to qualify for a management-stage position. Additionally, whilst now not usually required, it's useful to additionally have enjoy undertaking felony or ethical investigations for loss prevention supervisor positions.
  • Certificate: To come to be greater aggressive inside the task marketplace, Individuals can reap a loss prevention certificates from certain schools, consisting of Mississippi College, which has a 21-hour certification program.

Loss Prevention Manager Skills & Competencies

In addition to the obligations executed with the aid of a loss prevention manager, the subsequent competencies will assist them reach their position:

  • Communication: The loss prevention manager is expected to speak effectively as a way to efficaciously behavior opinions with management, police, and personnel.
  • Work nicely with others: They also must be a team participant, able to work with one of a kind persona sorts, assertive, able to paintings with discretion, and expert.
  • Analytical, specific, and personal: They ought to additionally keep confidentiality, have remarkable interest to element, and feature notable analytical capabilities.
  • Computer abilities: Computer and word processing proficiency is also required.

Retail sales or operations enjoy is beneficial however isn't continually required. Attention to element, acute commentary, and analytical abilities are crucial. A loss prevention supervisor have to have validated achievement in a function of authority. Experience undertaking felony or moral investigations is desirable and sometimes required. ​

Job Outlook

According to the 2018 annual National Retail Security Survey carried out by means of the National Retail Federation (NRF), the want for loss prevention inside the U.S. retail industry is vast already and getting more vast every year.

Among shops surveyed, greater than 30% noticed growing budgets and general staffing. The stores surveyed stated they wanted at least eight additional loss-prevention body of workers participants to maintain up with the loss-prevention responsibilities.

Work Environment

Loss prevention managers usually work in retail stores and may experience some tour among stores.

Work Schedule

The work agenda of a loss prevention manager is generally an eight-hour in step with day, complete-time process. Longer hours can be required if theft or a few other illicit interest has been located and desires on the spot research.

How to Get the Job

GAIN EXPERIENCE

Look for retail loss prevention jobs at an associate level to advantage the required 3 to 5 years of enjoy typically required to be considered for a loss prevention manager position.


NETWORK

You can go to the National Retail Federation's loss prevention online assets to locate enterprise events to wait and use to gain exposure to others in the discipline.


APPLY

Look at task-search assets like Indeed.com, Monster.com, and Glassdoor.com for to be had loss prevention supervisor positions. Also, test for process postings on the web sites of loss prevention enterprise businesses consisting of the Loss Prevention Foundation.

Comparing Similar Jobs

People inquisitive about a loss prevention manager activity also keep in mind the following career paths, listed with their median annual salaries:

Source: Payscale.com, 2019