Loss Prevention: Retail Loss Prevention vs. Data Loss Prevention
By Silas Reed
Loss prevention is a very broad term. It can be applied to data loss prevention as well as retail loss prevention. Both these are entirely different spheres. Retail loss prevention is used to explain the methods used to reduce all the losses related to retail trade. It signifies a type of private investigation into theft. These investigations mainly focus on larceny like shoplifting, embezzlement, package pilferage, credit fraud, and check fraud.
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The main motive of Loss Prevention is to increase profits by reducing shrinkage. According to a survey, shrinkage is divided in five categories which may be categorized as: Employee theft, administrative error, vendor error, shoplifting, and unknown error. The largest portion of shrinkage comes from employee theft. Some small retailers can have a monthly and annual loss percentage of around 20%.
CCTV stands for Closed Circuit Television and is one of the major technological advancements. Almost every loss prevention departments employ CCTV cameras. Use of CCTV cameras enables the investigator to have a better view of the suspect and record incidents. A two man team can be utilized where one man operates the CCTV to detect shoplifters and the other follows the suspect.
Electronic Article Surveillance involves the use of electronic security tags and electronic security towers. Hard tags are placed on all the items in the store. These tags are to be disabled by the cashier. If the tag is not disabled it will activate the alarm tower. Dual resonator EAS stickers are placed on small items like shaving razors and cold medicines.
Other ways which are employed for Loss Prevention are two way radio sets, point of sale, efficient audits and reporting, electronic journals, ink tags, ceiling mirrors, bottom of basket, consent searches, viewing towers, and integrity shops.
Now we come to the other type of Loss Prevention, which is data loss prevention. Data loss prevention refers to a system which is designed to detect and prevent any unauthentic use of information. DLP is associated with systems that are used to identify and protect data which is in use, in motion, and at rest.
There can be an intrusion from outside to access sensitive information of an organization. Also there is also a probability of leakage of information from within the organization. Thus breach notification laws have been passed by various organizations, so that the customers can be notified when their information is exposed.
There are several types of DLP systems. One of them is a Network DLP. This DLP system is easy to install and they offer a low cost of ownership. Another DLP system is a Host-based system. They have an advantage that they can access physical devices and control them.
The most important part of a DLP solution is data identification. It is a method by which the thing to look for is determined by using a DLP technology. Multiple methods are employed for serious content analysis, ranging from keywords and dictionary to fingerprinting and partial document matching. The accuracy of the analysis engine determines its strength. The accuracy itself depends on many situational and technological variables.
The foregoing discussion is about the job prospects of a loss prevention system. The requirements for a Retail loss prevention officer are as follows. The educational qualifications required are the completion of high school credentials – Police and security course certificate, CPR Certificate, First Aid Certificate, and Criminology course certificate. Experience is generally not required but experience proves to be an asset. In the US, language requirements are not much. Spoken English and reading and writing English should be known to the applicant. It is an advantage if the applicant has experience of Mystery shopping. The applicant should be acquainted with Audio-video surveillance, computer handling, statement taking, and preparation of evidence reports. The applicant should be physically robust, should be capable of working for extended hours.
Now comes the best part, salary. A typical Retail Loss Prevention Representative in the States gets a median salary of about $36,750. So a Retail Loss Prevention Representative in the States gets in the 25th percentile around $31,285. The median salary has been stated above. In the 75th percentile the pay is around $44,399. The pay is highly affected by various factors such as the size of the industry, employer size, credentials of the employer, years of experience and many other factors. The pay scale for a data loss prevention officer is also of the same order.
Thus we see that Loss Prevention is an essential part of retail management and data management. There are ample job opportunities in this sector. In the coming years these sectors are going to grow at a much faster pace because of the fast technological advances of the world.
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Macy's The Shops at La Cantera, San Antonio, TX: Loss Prevention/Security Associate, Part Time United States-TX-San Antonio
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As a Macy's Loss Prevention/Security Associate, you'll help us protect our company's assets. You will perform internal and exter...
Loss prevention careers are jobs and occupations directly related to reduction of the amount of shrinkage and losses of a retail trade or any businesses.
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