2014 Performance Management

By Byron Smith
Corporate Asset Protection Manager
7-Eleven, Inc.

As we reflect on 2013, many of us may have had big changes in both our personal and professional lives. The world of Loss Prevention has its changes or cycles as well. Many organizations are doing more with less, forced to reduce their team in some way, or being asked to take ownership in areas not typically managed by loss prevention. Some organizations, on the other hand, are growing. Many have become departments with proven results that are impacting profitability and have become key in developing future leaders throughout their organizations.

As it relates to developing future leaders, most organizations will be conducting their annual associate performance review process in the next few weeks. As you sit down with your associates, this is another opportunity to make a difference in their career. Be honest, offer support, and make this process one of importance by spending the time to make it beneficial for the associate and department. During my career, I have worked for some really great leaders who invested time with me during the year, and my annual performance review was encouraging and reinforcing. On the flip side, I have had reviews that were surprising and lacked substance or offered limited direction. As leaders, you should do everything possible to make those annual reviews impactful and actionable.

You may have the resources within your company to offer additional training, personal course work or continuing education toward a degree. If you have these resources, send that calendar invite today to your Human Resources partner to talk about not only the options for your associates, but what’s out there for your own personal development. Our industry also offers several certifications that should be researched and considered. By budgeting training courses or certifications in the future, you will allow not only your top performers to excel, but you will encourage those new associates into the Loss Prevention field.

Many may not manage associates or conduct performance reviews, but you should take the opportunity during the associates review time to express how they do influence others in their daily business. Encourage those individuals to conduct market or store level training, create a district newsletter or grab time during an operations conference call to recognize great performance and keep the team updated on trends. Many may have the chance to use your internal social media site to address a larger group.

Make 2014 the year of leadership development, learning a new part of the business, and encouraging personal development. These efforts will enrich your organization, maximize performance, develop future leaders, and strengthen the Loss Prevention community as a whole.