What is Loss Prevention? Loss Prevention refers to steps a business takes to reduce profit loss.

Your business is the most important asset you have, so understanding how Loss Prevention and implementing it properly can save your bottom line. Your products or service is not the only thing that will impact your profits.

The most common topics of loss businesses think about:

• Theft (Interior or exterior)
• Fraud
• Administration Errors

Not so common and often overlooked are just as costly:

• Employee turnover
• Poorly managed expenses
• Vendor Programs

Your employees are the most important asset as well as your most expensive. So, training and retaining quality employees can increase a businesses profit. Basic costs for employees include but not limited to, hiring, onboarding and training, learning and development and the cost of unfilled positions.

According to Employee Benefit News, employers spend around 33% of a worker’s annual salary during the replacement process.

Poorly managed expensing can also rob a business of profits. Who is managing your expenses? Do you have programs in place to ensure your business is monitoring waste?

Are you a business that partners with outside vendors to provide outside products or services for your customers? When was the last time you reviewed those contracts and are you getting the most for your money?

Reach today for a Free Consultation for your business. We will come and evaluate your business and look for ways you can improve your profit protection.

With over 20 years of experience in Business Management and Marketing, I can help you set up programs that are easy to follow and train employees to bring more to your bottom line and grow your business.