Oil prices are redefining every facet of our lives and changing the retail landscape dramatically. Consequently, what we’re seeing is shifts in consumer spending that is shrinking the retail market, especially in the soft lines and home improvement segments and causing reduced growth in the lower end,value-driven retailers. This change is happening at such an accelerated rate that it’s creating a fear factor that’s impacting our society and increasing the economic downturn.

The Role of Fear

According to psychologists, fear is the most powerful human emotion, and fear is certainly impacting the retail job marketplace now from two perspectives. First, the executives who are unemployed or who are with shaky retailers are understandably flooding the marketplace. However, they are less likely to relocate, not as keen to travel overnight, and more likely to have family responsibilities that impact their commitment levels.

Second, the executives who are secure in their positions are increasingly less likely to make a change, but when they do, there’s been a significant increase in the number of executives returning to their old employers because the change was just too much.

Our industry is dealing with the direct negative side effects of increased workplace violence, increased internal theft, increased organized retail crime, and increased shoplifting. From this writer’s prospective, however, we are not dealing with it well from a leadership prospective. Quite frankly, the change is happening at such a pace that no one has had the time to deal with it or even realize that its there.

All these factors are impacting performance, turnover, and quality of service on the corporate side, and impacting careers on the personal side. Salary increases are flat. Job counter offers have significantly increased, but not for the right reason; more to avoid the cost of replacing an executive. Company cars are decreasing, bonuses are virtually nonexistent, and stock programs have significantly diminished if not wiped out.

Our industry has lost jobs along with everyone else. And while at one time we could point to technology as the primary culprit, we now have to accept the recession’s impact and expect even more job losses by year end.

Taking Charge

Indeed, these are difficult times and there is no end in sight yet. However, it is during these times when one must focus on increasing performance and strengthening your careers. This is a time when loss prevention professionals can take a leadership role in helping retailers with the economy’s negative side effects and truly be viewed as a value-added resource.

The problem is that during these times, people have a tendency to become preoccupied with the amount of change and problems and don’t focus on increasing performance or developing their own careers, when in fact this is the perfect time to do both.

Career development is an ambiguous term. But at the end of the day, its all about taking responsibility for your own career and making the sacrifices and investments that you feel will pay off for you long term. Obviously, the most important and critical element is continuing your education. Another is taking on assignments that push your boundaries and force you to take risk. Staying in your comfort zone is the path of least resistance, but it is also the path of stagnation and possible elimination, especially in today’s climate.

For one to truly develop himself, he or she must get out of their comfort zone, take a risk, and invest yourself personally and professionally. If you truly want to increase your success, then you must be willing to make mistakes.

Certainly the National Retail Federation, the Retail Industry Leaders Association, and the Loss Prevention Foundation are there as resources, but the ultimate responsibility is up to you. Regretfully, retail America, for the most part, is focused on its own survival. Given that it’s your career and no one else’s, it’s up to you to take charge.