While the vast majority of retail employees we have met are honest, there are some who steal from their employer. Christmas is a time of an increase in theft by retail employees. 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.