27.8% The Most Effective Retail Employee Theft Reduction Strategies
Where do you think the majority of the people who shoplift from your store live? Answer: About 5 to 7 miles radius from your store.
Where do many of your employees live?
Answer: About 5 to 7 miles radius from your store.
If your employee and shoplifters live in the same community, eat in the same restaurant, swim in the same pool and play football together, can you really trust all of your employees?
The majority of retail employees are decent people who go to work each day to serve their customers and make their living. However, there are the rotten apples that contaminate the good names of the rest. The reality is employee theft is part of the dynamics of any business. It is especially rampant in the retail environment because of retail employee’s immediate access to high value items and money.
Taking advantage of their positions (access to security information, keys and security codes etc.), dishonest retail employees are capable of inflicting more damage on their employers than shoplifters. The average customer related theft costs a retailer £66, while the average employee theft is estimated to cost retailers £1,318. Due to their proximity to the system, employee theft is difficult to detect. It takes an average of 18 months to detect retail employee theft. Most instances of employee theft go undetected for years, especially if the individual involved is a store manager or in a senior management position.
This e-book is an instructional guide to retailers to show them how to minimise and prevent employee theft in their stores. Like shoplifting most incidents of employee theft occur because the opportunity exists. When retailers remove the opportunity, they can reduce the possibilities. This e-book will show retailers how to remove the opportunities that allow employee theft in their stores.
You will learn:
•Why Employees Steal
•The Process of Employee Theft
•Signs of Employee Theft
•How to Calculate the Cost of Employee Theft
•How to Prevent Employee Theft
•How Technology Can Help Prevent Employee Theft
•The Ultimate Employee Theft Prevention Formula
Where do you think the majority of the people who shoplift from your store live? Answer: About 5 to 7 miles radius from your store.
Where do many of your employees live?
Answer: About 5 to 7 miles radius from your store.
If your employee and shoplifters live in the same community, eat in the same restaurant, swim in the same pool and play football together, can you really trust all of your employees?
The majority of retail employees are decent people who go to work each day to serve their customers and make their living. However, there are the rotten apples that contaminate the good names of the rest. The reality is employee theft is part of the dynamics of any business. It is especially rampant in the retail environment because of retail employee’s immediate access to high value items and money.
Taking advantage of their positions (access to security information, keys and security codes etc.), dishonest retail employees are capable of inflicting more damage on their employers than shoplifters. The average customer related theft costs a retailer £66, while the average employee theft is estimated to cost retailers £1,318. Due to their proximity to the system, employee theft is difficult to detect. It takes an average of 18 months to detect retail employee theft. Most instances of employee theft go undetected for years, especially if the individual involved is a store manager or in a senior management position.
This e-book is an instructional guide to retailers to show them how to minimise and prevent employee theft in their stores. Like shoplifting most incidents of employee theft occur because the opportunity exists. When retailers remove the opportunity, they can reduce the possibilities. This e-book will show retailers how to remove the opportunities that allow employee theft in their stores.
You will learn:
•Why Employees Steal
•The Process of Employee Theft
•Signs of Employee Theft
•How to Calculate the Cost of Employee Theft
•How to Prevent Employee Theft
•How Technology Can Help Prevent Employee Theft
•The Ultimate Employee Theft Prevention Formula
