Target Risk Management

Risk events at Target stores can be very damaging to the business. Violence at a Target store can manifest in a number of scenarios resulting in a loss. Even though most retail stores locations rely heavily on the local authorities to respond and provide an immediate resolution to violent incidents at the Target stores, it is important for the risk management team at the organization to have a plan for prevention and mitigation of these incidents (Pearson, 2005). When there is a violent incident at a store location, losses associated with this incident will not only affect the store where the incident occured but it will affect the entire organization. The losses are not only financial but there will be a decrease in employee job satisfaction

Employee interaction with the customer in retail usually is what creates and provides the foundation for longevity of brand loyalty. If is a customer involved in a violent situation while at a Target store, that situation will erode the customer’s trust. In order to help mitigate these losses the risk management officers should create a program targeted at prevention or reduction of violent incidents.The best way to reduce the loss associated with workplace violence is early intervention and risk assessment tools. If risk can be identified and prevented before it happens, the loss associated with the incident will be minimized. One example of a risk incident is a customer becoming irate with an employee at a store. Store security and store management should intervene in these types of situations early before they escalate into a violent risk incident. If the store manager is aware that an employee is having a domestic issue at home, the store manager should set up preventive measures to keep the employee safe while at work. Sometimes two employees have disagreement that can lead to a violent incident, managers should actively engage when there is a disagreement to find a

One another goal of a cash control system is to increase employee safety. The risk management policy should have procedures in place so employee safety is a priority. Risk management policies about how much cash is kept on hand at the store, the use of safes to store money, how money is transferred from the store to the bank will increase employee safety to help prevent employee being a target of theft. Investment in sophisticated store lighting systems that keep the store well lit inside and outside are a great theft prevent method. To help mitigate situations involving disagreement between two employee or domestic violence are usually discussed before there is an actually action. Store level managers and human resources have to work together to create training to help employees know to respond to a potentially risky situation. Employees should be encouraged to report any situations that can escalate into a risk threat to management. Training programs should be designed to help store management deal with these types of situation without being aggressive and minimizing loss during the situation. Employees want to know that their employee cares about their