How Can Two-Way Radios Help with Loss Prevention?

How Can Two-Way Radios Help with Loss Prevention?

Retail shrinkage is a genuine problem for millions of brands and stores worldwide.  But what is it, and how could it affect your business? Shrinkage covers losses that any retail business may accrue for various reasons.  One of the biggest factors is theft.  Shoplifting can have a massive knock-on effect for any retail store.  After all, it is valuable stock being lost.

However, other factors such as employee theft, internal fraud and internal admin mistakes may also be taken into account.  To reduce shrinkage, therefore, you’re going to need to look at the bigger picture.

Shrinkage can massively affect your growth.  It has a knock-on effect for everyone!  If loss isn’t tackled head-on, it could mean very bad news for the future of your business.  To continue growing, you’ll need to minimise the risk of money being lost.

But what can you do to cut down potential shrinkage?  How can you make your employees more accountable, and tighten your cash flow, without losing precious time in the bargain?  Simple! Introduce a two-way radio system!

Introducing Two-Way Radios to Retail

Every business can benefit from two-way radios.  Radio communication not only helps to improve the overall customer experience, but it also helps to bring staff together.

It’s not always so simple to keep eyes on all departments at any one time.  With efficient radio communication, you’ll be able to keep your fingers on the pulse at all times.   More control for you day to day also means greater control over how well your end of year totals will turn out.

It’s only easy to prevent loss if you know when and where to look.  Disappearing goods, vandalism and health and safety problems can all be easily accounted for if you’re in the right place at the right time.  And when is that ever likely to always be the case?

With two-way radio technology, you’ve always got eyes and ears on the ground.  With this in mind, let’s consider some of the more specific ways a radio setup can help to reduce shrinkage.

Many two-way radio systems have features which can allow staff to speak with specific team members, to open private channels, or to call several in one conference.  This means that there is plenty of flexibility for communication.  Allowing retail staff to communicate freely means that all areas of a business or store can be monitored at all times.  It also means quicker dispatch for problem resolution.

Plenty of retail chains and stores have been coping well without radios for decades.  It’s true!  So what is so different nowadays?  What are some of the big differences that radio communications can bring to any retail environment?

How Can Two-Way Radios Help in Practice?

On the face of it, it may not seem too obvious how two-way radio communications can help save money.  However, simply by applying such technology to everyday problems and situations, we can already see the benefits.

• Staff members will be able to alert security staff and other personnel if they suspect criminal activity.  They will also be able to seek quick, relevant support to make sure that a situation can be discreetly and efficiently resolved.
• Radio technology allows staff to respond and take action in emergencies instantly. For example, a child may be missing, or a customer may be injured.  In many cases, avoiding an escalation can also mean less money lost.
• Staff using radios can better monitor high profile stock. This also accounts for asset management, too.  A staff member assigned to a certain area of the business can offer regular reports on stock levels and can raise the alarm to the relevant team when in need.
• More efficient collaboration makes for a more efficient operation.  Having each team member instantly able to contact one another means that there is less time wasted in trying to bring everyone together.  The more time saved, the more money you can save in the long run.
• Employee accountability is also crucial when it comes to reducing overall shrinkage.  This is very difficult to monitor from day to day!  With two-way radios in place, you can freely monitor various departments and can supply employees with the ability to solve problems more efficiently.  It’s a great way to ensure everyone takes charge of their areas.
• Two-way radio systems will also encourage your staff to consider company policies, procedures and other matters more closely.  Providing instant communication access to other areas of the business will ensure that they can seek the help they need without question.  More control means more confidence.  More confidence, of course, means more productivity!
• Two-way radios can encourage everyone to work together.  Knowing that you have a radio connection to everyone else in a store will inspire a greater feeling of community and team spirit.  This way, you can develop an environment that works together to fight against potential losses and shrinkage.
• You can answer customer queries quicker than ever before.  Not only does this mean that every customer gets a fantastic experience, but it means that you are physically able to handle more queries than ever before.  That, ultimately, translates to more business, and less room for loss.
• At peak times, many retail stores will require all hands on deck with regard to ensuring customer wait times are kept to a minimum.  Instead of relying on a tannoy or loudspeaker system, you can contact staff instantly to ensure that the right people attend to the right stations.
• It’s quick, it’s easy, and it delivers the message as intended.  There’s no room for error.

Of course, your business operation may vary!  These are just a few ideas which you may wish to think about in terms of your operation.  Could a two-way radio system help drive down your costs?  Why not take a look at daily challenges you face and consider whether or not a two-way radio network may help to resolve them?

Why Retail Stores and Staff Love Two-Way Radio

We’ve taken a look at the wide-reaching, specific benefits that two-way radios can bring to any business.  However, we also need to consider short-term appeal, too.  Two-way radio systems are immensely popular with retail companies and their staff the world over.  Believe it or not, it’s not just because they can help to increase efficiency and productivity.

No matter how many you buy, two-way radios are incredibly cost-effective.  There are no running costs!  Simply charge the units overnight and away you go.  The price of a large stock of radio units for your team will balance out after just a few weeks of use.  The cost-effective factor can be huge providing you use them regularly.  You’ll only have to look at your end of year profit and losses to see the benefits.

Modern radio systems are extremely easy to use and are therefore a massive time-saver for retail staff.  While older radio systems may have been temperamental and difficult to get used to, current digital, multi-channel devices allow you to connect without fear of miscommunication.  Having a communications device on your person, that lets you speak to everyone in the store is also incredibly empowering!  They are fantastic control and confidence boosters.  Knowing you can call anyone for help at any time is incredibly liberating.

Everyone wants to save time and energy.  That applies to front-of-house staff, CEOs, security personnel – the list goes on!  Two-way radio communications make sure that the average retail day runs smoothly.   Radio systems breed competence and care.  That means there’s less room for shrinkage to creep in and cause damage to your firm.

Conclusion

Two-way radios are fantastic in helping to reduce the chance of shrinkage in any business.  Communications devices can help with loss reduction on a day to day basis.  The evidence is clear!

• Staff can report potential problems instantly to the right people.
• Problem areas, assets and stock can be monitored and reported on regularly.
• All staff can save time by speaking to one another instantly.
• The right people can be dispatched to areas of need without delay.

Radio systems in retail are nothing new; however, they are becoming more and more commonplace in the everyday retail environment.  It’s clear to see why.

With this in mind, a reliable two-way radio system should always be invested in if you are worried about losing money year on year.  If you don’t have eyes on every area of your business, radios can allow staff to take greater responsibility, and to join together to help a business thrive.

Two-way radios are a shrewd investment which pay for themselves!  It is therefore always recommended to look for some of the more trusted brands and feature-rich models available for purchase.  The more capable a radio device, the more power is offered to your team.  That, for you, could mean less shrinkage year on year!

Are you worried about your retail firm losing money?  Don’t be!  Two-way radio systems can help to reduce time wasted and any potential money lost.

If you would like to speak with our retail specialist, please contact Grant Litchfield on 01480 407740 or email him directly grant@dts.solutions.