Lowe’s CEO Says the Solution To Rising Theft Is Clear: Hire and Train More Workers
September 18, 2023
Lowe’s CEO, Marvin Ellison, attributes the company’s lower-than-average inventory shrink rate to investments in its workforce. He emphasized the importance of effective customer service and human capital in deterring theft, stating that having more engaged employees interacting with customers plays a crucial role in preventing losses. Lowe’s has significantly increased spending on employee compensation and places a strong emphasis on training, along with maintaining robust partnerships with law enforcement agencies.
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