In our work with small business on customer and employee theft situations we have developed some cross industry advice which we’re told helps cut the cost of theft. Here are five tips for cutting employee theft in retail:
1. Background check every new hire. Get their permission and use an agency to check with the police and other sources. Make sure you know the person you’re hiring! Often just asking their permission to submit to a background check will turn away those you don’t want.
2. Pay above award wages. The quality of your employees is up to you. If you’re doing your job you have good employees. Value them. Pay above award – by up to 10%. This will reduce theft.
3. Engage and show respect. Ask for their honest comments about the business. The more they feel, genuinely feel, valued, the less likely they are to steal from you.
4. No employee bags at the counter.
5. Offer fair discounts to employees. Let employees buy products for a fair discount and demonstrate respect for their involvement.
Our pitch is that the best way to cut employee theft is to instll our integrated point of sale / security system. This provides the evidence essential to putting money back in your pocket.