Promoting workplace safety to help reduce employee injuries and expensive claims is one way to help keep your workforce healthy and productive, and keep your premiums down. Loss control is designed to help prevent or reduce the possibility of a loss, or to help reduce its severity if one does occur. The Occupational Safety and Health Administration OSHA recommends that two managers plus two additional employees make up your internal safety committee. The object is to look for anything that could pose a threat to your workforce, like slippery floor surfaces or tripping hazards.
How Can You Put A Loss Control Plan Into Action?
Insurance Loss Control Definition
Controlling Workplace Hazards
Retailers continue to invest in new technology to reduce inventory shrinkage. Electronic item tags, high-tech surveillance and facial recognition, you name it — retailers continue to search for a one-and-done, slam-dunk-way to curb inventory loss. It's the only way to effectively fight problems like shoplifting and employee theft. A solid loss prevention plan means more than sticking a few surveillance cameras in the ceiling. Some of the highlights include:.
Preventable losses are happening in retail businesses every day, whether they are happening through the abuse of company policies, theft, fraud, vandalism, accidental waste or employee misconduct. The truth is, by recognizing the problem and taking steps to counteract it, companies can begin to effectively prepare for and prevent unnecessary losses. What companies in the retail industry need to do is implement clear and actionable retail loss prevention plans. With that in mind, here are some specific concepts to implement that can help your business protect its profits:.