Loss prevention is broadly seen as a two-fold corporate tool that helps companies avoid losses via external or internal theft. To achieve this, firms hire experts from the private security industry.
Unlike regular security guards who ensure individuals’ safety, loss prevention security has its primary aim at preventing, apprehending, and investigating frauds, thefts, and organized crime. Some theft includes shoplifting, internal theft, distraction theft, etc. Below are some critical areas in loss prevention:
Forms of Loss Prevention
• Plainclothes: This is the most typical way in which loss prevention personnel dress. The idea behind this is that by blending into the system smoothly, people hardly notice the security check, and it becomes much easier to get the job done.
• Uniformed: The purpose of this outfit is for theft deterrence. Often, uniformed security personnel are ineffective with loss prevention because it becomes easy to spot them and avoid them.
Note that each of the above methods has its pros and cons.
Internal audit is another way organization go about their loss prevention. Firms might contract the review out to external agencies or make use of their internal risk assessment staff. Internal audits aim to reveal the competence of a security system.
By assuming a thief or dishonest worker’s stance, the auditor can spot loopholes in the company. In more serious situations, corporate security might investigate matters, just how a police detective would do.
Approaches to Loss Prevention
Companies may decide to adopt a rigid hands-on or hands-off approach to apprehending thieves, depending on their policies. However, the State jurisdiction still has a significant say on how the loss prevention security personnel can operate.
Choosing The Right Loss Prevention Team
XpressGuards has a dedicated team of loss prevention guards. With an accomplished track record and competitive rates, we provide the right solution for your company. We’re thoroughly professional, and we ensure that your business has optimum security against all forms of theft. Contact us now.