What You Need to Know About Retail Loss Prevention Specialist
Job Description & Duties Implement procedures and systems to prevent merchandise loss. Conduct audits and investigations of employee activity. May assist in developing policies, procedures, and systems for safeguarding assets.
A Day in the Life of a Loss Prevention Specialist
- Identify and report safety concerns to maintain a safe shopping and working environment.
- Recommend methods to reduce potential financial fraud losses.
- Implement or monitor processes to reduce property or financial losses.
- Perform covert surveillance of areas susceptible to loss, such loading docks, distribution centers, or warehouses.
- Investigate known or suspected internal theft, external theft, or vendor fraud.
- Maintain documentation or reports on security-related incidents or investigations.
What Skills Do You Need to Work as a Loss Prevention Specialist?
When polled, Retail Loss Prevention Specialists say the following skills are most frequently used in their jobs:
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Monitoring: Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
Speaking: Talking to others to convey information effectively.
Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Social Perceptiveness: Being aware of others’ reactions and understanding why they react as they do.
Other Loss Prevention Specialist Job Titles
- Loss Prevention Leader
- Loss Prevention Detective
- Retail Loss Prevention Investigator
- Asset Protection Specialist
- Loss Prevention Investigator
Is There Job Demand for Retail Loss Prevention Specialists?
In 2016, there was an estimated number of 133,800 jobs in the United States for Retail Loss Prevention Specialist. New jobs are being produced at a rate of 8.4% which is above the national average. The Bureau of Labor Statistics predicts 11,300 new jobs for Retail Loss Prevention Specialist by 2026. Due to new job openings and attrition, there will be an average of 35,200 job openings in this field each year.
The states with the most job growth for Loss Prevention Specialist are Texas, Nevada, and Washington. Watch out if you plan on working in New Jersey, Alaska, or Connecticut. These states have the worst job growth for this type of profession.
Do Retail Loss Prevention Specialists Make A Lot Of Money?
The salary for Retail Loss Prevention Specialists ranges between about $20,530 and $54,130 a year.
Retail Loss Prevention Specialists who work in District of Columbia, Virginia, or Nevada, make the highest salaries.
Below is a list of the median annual salaries for Retail Loss Prevention Specialists in different U.S. states.
|State||Annual Mean Salary|
|District of Columbia||$54,200|
What Tools do Retail Loss Prevention Specialists Use?
Although they’re not necessarily needed for all jobs, the following technologies are used by many Retail Loss Prevention Specialists:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Database software
- Case management system software
How do I Become a Loss Prevention Specialist?
What education is needed to be a Retail Loss Prevention Specialist?
How many years of work experience do I need?
Where do Retail Loss Prevention Specialists Work?
The table below shows the approximate number of Retail Loss Prevention Specialists employed by various industries.
More about our data sources and methodologies.
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