Theft Prevention in your retail business
In retail, a high risk is part of the business.
Unfortunately, internal theft is the biggest risk you have to face in retail. It can go as far as pushing you out of business if you fail to control theft in the long run.
How can theft through employees be prevented though?
First of all, you have to balance controlling employee theft while still maintaining a fruitful working environment.
- Human resources interventions:
- Only hiring people you know
- Checking references carefully
- Detailed interview processes
- Daily procedures
- Create and initiate procedures to check the cash register before and after every shift
- Very frequent physical inventories
- Check daily receipts
- Review your CCTV footage daily and have professionals audit your security to avoid hidden areas
Make sure to also establish a positive work environment of trust and good team work. Studies suggest that loyal employees who also have trust in their executives and are loyal to the company are more than three times less likely to commit internal theft.
Another threat is shoplifting – it accounts for billions of dollars of loss every year.
How can I prevent shoplifting?
- Staff training
- Train your staff to be able to recognize potential shoplifters
- Place items that are easy to steal near the counter and train your staff to be aware
- Make your staff aware of isles and items that are stolen most oftenly
The most important way to theft prevention is electronic security.
With a professionally installed alarm system, CCTV and a perfectly planned security program, theft can be prevented quite easily.
- Alarm system
- Electronic tags
- Switches, Security patrol
All of the above can help you to create a highly secure retail business. Are you up to date?
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