Measures to Prevent Theft

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In business today, theft can be a very serious problem. The sad part about theft from businesses is that a larger share of theft happens from a company’s own employees. It is estimated in Australia that businesses lose as much as $810 million due to theft or shoplifting. A small business report out of the United States estimated that two-third of all shoplifting thefts were from the businesses own employees. Another report showed that employees admitted to stealing on average $168 worth of product every year. These to statistics show an increased need for security and security measures for all product based businesses. Businesses need to implement security standards and best practices which could include tamper evident tape to be able to uncover theft as soon as it occurs.

An ounce of prevention

Can be worth 10 pounds of product. There are number of anti-theft measures that can be instituted in your business that can help prevent employee fraud shoplifting theft. Such as the following:

> Background checks – most businesses have the ability to do background checks on their employees yet fail to do so. If you have this in place as a current procedure make sure that you follow through with it, if you do not start implementing it.

> Check references – it is amazing how many employees actually have bad references and still lists them on their resumes or names them in interviews. A quick call can assess whether the candidate is as honest as they say they are.

> Conduct guidelines – it is not important just to have a corporate conduct guideline manual that sits on the shelf it is more important to communicate what is acceptable and what is not, verbally and often.

> Audit – high risk areas of your business such as stock rooms and delivery procedures should be audited at least once a year with a hidden rolling schedule.

> Recognizing the signs – there are many signs that develop when an employee is embezzling or out-right stealing products. They could prefer to work alone, at night or do not want vacation time.

> Proper management – includes actually evaluating employees on a consistent basis and providing feedback on a one to one basis.

Added security

There are other solutions to theft that include using advanced technology and products to prevent or help identify theft before or as it occur in order to catch the offender and prevent future losses.

> Install close circuit TV monitoring cameras.

> Use tamper evident tape on product boxes to help identify theft as quickly as it happens.

> Always have two employees conduct product deliveries or retrieving product from storerooms.

> Use RFID tags on inventory to keep track of it.

> Establish a theft reporting policy that is anonymous.

For small business instituting standard procedures and the less expensive of these options will provide a modicum of security and help reduce your loss to employee or outside theft.

Businesses small and large are losing product, money and time to thieves’ right under their own noses.