Surge in employee theft in retail businesses
Mark on December 24, 2013 6:23 AM
With Christmas retail activity in high gear it is no surprise that there has been a surge in reports of employee theft. We have received several over the weekend and yesterday. Each report is taken through a proven process we have stablished for gathering and verifying evidence and considering an appropriate course of action.
In one case we stepped in for the retailer, at their request, and terminated employment of one staff member and laid out a framework for money being returned to the business.
While the vast majority of retail employees are honest, there are some who steal from their employer. Here is our advice for retail business owners for cutting the cost of theft by retail employees:
- Change the passwords that provide access to the most sensitive data right away and do not given them to anyone unless absolutely necessary.
- Change the roster, shake things up.
- Remove all handbags, phones and personal items from the counter.
- Get employees out of any non-uniform clothing with pockets.
- Implement random end of shift cash balancing several times in the day unannounced.
- Use employee cards for tracking sales by employees – these are better than a three code employee code.
- Stop employees ringing their own purchases up.
Treat your business as you would a large bundle of $100 notes. The more serious you are about managing your cash the more of it that will make its way to your bank account.