Mike Lamb is back—to retirement. This is his second time retiring from the asset protection and loss prevention industry, and this time it’s for good.
At least, that is what he claims. “I retired in February of this year for the second and final time,” said Lamb. “Despite my love and admiration for the industry, the only attachment I'm going to have these days is just doing consulting and advising and doing the things that give me that level of satisfaction.”
Lamb spent more than four decades in the asset protection and loss prevention industry. That’s a lot of time considering he entered it almost accidentally.
His retail career actually started when he was in college. His cousin got him a part-time job putting price tags on beauty products. After six months, the security manager approached Lamb about switching to security. Lamb’s first question about the job, “Well, does it pay more?” That simple question launched a 44-year career.
And while he originally switched for 25 cents an hour more, he stayed because he loved it.
Lamb, who grew up in east Tennessee, originally wanted to be a park ranger. “I had many opportunities to take other paths,” he said, “but I so loved what I did that I really didn't do it for the compensation. I did it for the fact that I really got such a charge out of doing what I was doing, and therefore I stuck with it.”
Soon Lamb’s managers took notice and asked him to be a manager and from there his career in asset protection really took off. Over four decades, he held positions at multiple Fortune 500 companies including Walmart, The Home Depot, and Kroger.
Lamb retired from Kroger—twice. Most recently, he was the Vice President Asset Protection at Kroger and oversaw the shrink, waste, loss prevention, and safety processes of nearly 2,800 stores in 35 states under two dozen banners with more than $115.3 billion annual sales. He was able to reduce shrink for 13 straight year-over-year fiscal quarters.
Throughout his career, Lamb has seen the industry change, with the asset protection and loss prevention teams becoming more involved in supporting the business as a whole. The biggest changes came because of the COVID-19 pandemic. “So much more responsibility, thankfully in my opinion, was placed on asset protection to be a really integral business partner and department within an organization to help support success,” said Lamb.
Some may see AP/LP as a necessary evil—more sales prevention than asset protection. But Lamb has seen AP/LP grow into an essential piece of a business’ success. Unlike when he first started, it is now about more than just catching a shoplifter. Now AP/LP is about learning to run a business safely, keeping employees and customers safe, protecting physical assets, and in some cases managing queues of customers and the cleanliness of the location. “I would like to think that AP was right in the epicenter of the key departments that help ensure the success of the company and the safety of associates and customers,” he said. “So much has changed in my opinion, in terms of the depth and scope of the responsibility and the significance of the value that asset protection plays today.”
Even though his career started almost accidentally, Lamb doesn’t regret any of it. He said, “It has been a very rewarding career for me, and one in which I don't look back on success from a numbers or material perspective as much as I do just the massive friendships and partnerships and the people that I've met along the way that have taught me so much.”
And the people, according to Lamb, are the most important thing—not only those he worked with directly—but also those he helped to protect in the thousands of locations he oversaw throughout 44 years. His success in the workplace is nothing compared to the success he has seen in those around him.
Unlike when he first started, it is now about more than just catching a shoplifter.
Lamb hopes that his legacy, and those who influenced him, is carried on through those he worked with—a legacy centered on hard work and passion. His advice to current and future AP/LP leaders is to be bold. He wants those in the industry to be difference makers. He believes that as stressors on the industry increase, AP/LP managers will have to be leaders in their organizations, not just their departments.
“If you're leading an asset protection organization, you have to embrace the culture of that organization,” he said. “You have to weave in your strategy to the broader company strategy, and you have to be a voice. Your opinion should matter, your opinion should be expressed. Sell what you do hard to your executive leadership team. Be passionate about it. Do your homework. Emotion is important, but facts and data and the analysis of data is very critical.”
Lamb is excited for his next steps. He will continue to consult in the business but is looking forward to spending more time with his family. He fully intends to enjoy his retirement starting with welcoming a new granddaughter in August who he and his wife, Donna, can’t wait to spoil. Lamb also says they’re planning to travel and to spend more time on the water enjoying boating, beaches, and fishing in Florida where they currently live.
“I have been so humbled and so very well blessed by the career in asset protection,” said Lamb. “There was no looking back then, nor now.”
