A theft policy is vital for every retail business. here is advice from Tower Systems on what should be in a theft policy. We first provided this to our customers years ago and have recently finessed it based on experiences helping retailers to address theft challenges.
We suggest putting this on a notice board in a common area for employees to read and sign:
THEFT POLICY OF THIS BUSINESS
1. Theft, any theft, is a crime against this business, its owners, employees and others who rely on us for their income.
2. If you discover any evidence or have any suspicion of theft, please report it to the business owner or most senior manager possible immediately. Doing so could save a considerable cost to the business.
3. We have a zero tolerance policy on theft. All claims will be reported to law enforcement authorities for their investigation.
4. From time to time we have the business under surveillance in an effort to reduce theft. This may mean that you are photographed or recorded in some other way. By working here you accept this as a condition of employment.
5. New employees are to provide permission for a police check prior to commencement of employment.
6. Cash is never to be left unattended outside the cash drawer or a safe within the business.
7. Credit and banking card payments are not to be accepted unless the physical card is presented and all required processes are followed for processing these.
8. Employees caught stealing with irrefutable evidence face immediate dismissal to the extent permitted by local labour laws.
9. Employees are not permitted to remove inventory from the store without permission.
10. Employees are not permitted to provide a refund to a customer without appropriate management permission.
11. Employees are not permitted to complete sales to themselves.
12. Every dollar stolen from the business by customers and or employees can cost us up to four dollars to recover. This is why vigilance on theft is mission critical for our retail store.
PLEASE SIGN AND DATE YOUR ACKNOWLEDGEMENT OF THIS POLICY:
Beyond excellent Point of Sale software, Tower Systems helps retailers with practical advice on how to improve their business as well as how to mitigate against expensive business challenges such as employee theft.