At the recent FMI Asset Protection conference in New Orleans, I had a chance to address the group on the issue of how Loss Prevention groups align themselves, or don’t, with the overall organization and senior management. I’ve written on this topic on several other occassions and believe that it continues to be a critical issue for all retailers.
In preparation for this event, I was able to work with Rhett Asher at FMI to conduct an exclusive survey on this topic. We asked both senior Loss Prevention executives and CEO’s/Senior Management to give their views on how well their Loss Prevention group integrates into the overall mission of the company and where focus and improvement needs to occur. We were pleased to get good participation from both groups and the findings contained both good news and also some indicators of opportunity for us.
In general, senior executives believed that the Loss Prevention was critical to their company’s success and that they were doing a pretty good job, although not as good of a job as Loss Prevention executives rated their own group. However, senior executives tended to have a fairly narrow view of critical focus areas which might indicate some failure on our part to communicate the broad range of value and contribution we make to ther organization.
In upcoming months, look for an article in LP Magazine where we will give the detailed results of the survey and some ideas on how to improve organizational alignment with the enterprise.
Five Myths About Generation Y
There is a great article over at strategy+business (free registration required) that highlights five myths that continue to be perpetuated about generational differences, especially when it comes to the “Millenials” or “Generation Y.” The cited research specifically addresses five myths:
For several years now, research study after research study have shown that generational differences have largely been over-hyped by training companies, consultants, and a whole cottage industry of companies that seek to make money on this premise. Most studies find that employees, across generations, are seeking the same things in the workplace. Of course there are differences in styles between older workers and younger workers, but that does not infer different motivations.
In fact, most differences in attitudes are more closely associated with age and tenure in the workforce themselves. Yes, younger, lower paid employees are more concerned about compensation as they don’t make much money in the first place. Yes, younger employees tend to change jobs more quickly – just like most of us did in our early 20′s.
I’m not suggesting that organizations don’t explore how they communicate to different demographic segments of their employee populations whether that be along the lines of age, culture, gender, etc. However, it is time to question trite and oversimplified premises advanced by those who to seek to profit from them.