Principles of Loss Prevention: Compliance

Principles of Loss Prevention: Compliance

We have been tackling the topic of loss prevention in our blog recently – starting with Prevention and Awareness. What’s next? You have made your staff aware of their responsibilities and what it means to have shrinkage. It’s time to comply.

Compliance is the third principle in loss prevention. You have likely started by creating an awareness program, as with anything it only works if followed. Maybe you have made posters, brochures and other creative material to make the targeted demographic conscious of it. If this has been ineffective you will have to have add measures in the form of procedures and policies. But will taking these measures help your business in control shrinkage (loss).

We believe compliance to be very important and many retailers have established protocols against loss prevention to protect their business.  Emphasising the importance of compliance in policies and procedures is part of an effective Loss Prevention Program.

Top tip: Use regular auditing to ensure everyone follow procedures and policies that are written to counter loss prevention. Auditing your operating procedures and policies is the best way to maintain compliance for management. But of course, your staff should be aware that these audits are happening – hence we go back to the previous principle… awareness.

Through understanding the set procedures, policies and continuing compliance checks, your staff will have no choice but to follow the guidelines set as they will understand that in not doing so will likely result in loss.

The difficult part: How do we instil the culture of compliance in our business? This is not an easy question to answer and it will depend on many variables but a good place to start is by creating a program designed around honesty and remember to continue conducting the compliance surveys and audits.

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