Employee Theft Is On The Rise! In an age when jobs are hard to come by it seems absurd that many employees find it "necessary" to steal from the hands that feed it. A startling fact, but it's the truth. In fact, retail employees are 15 times more likely to steal from you than a customer is.
Nationally, shrinkage (theft from internal and external theft) accounts for almost 2.2% of gross sales and according to loss prevention experts, more than 50% of that comes at the hands of an organizations own employees. That's over $15 billion dollars each year!
Because employees know your companies systems better than anyone else, they know when and where to strike. Below are some common ways employees are stealing companies blind.
- Sweet-hearting–Giving "Great" Deals to friends/family
- Smuggling–Removing merchandise/cash as they leave
- Cash Register Errors
- Lost Productivity–Standing around, non-performin, etc.
- Reporting Late / Leaving Early Entering Store After Hours
"Throwing Merchandise Away"–Picking it out of garbage later Deactivating Tags / No Sales Employee/Vendor Collusion Voids or No-Sales False/Fraudulent Returns Cash Lifting (From Register)
- Accepting Bad Checks–Collusion
- Charge Credits–Collusion
- Manufacturers Coupons
- Stealing Customer Files–Credit Card Numbers, etc.
- Sliding / Fake Scanning–Scanning a wrong barcode
- Commission Fraud–Entering wrong assoc. no.
- Corporate Espionage Under Ringing
As long as companies remain open, employees that you try so hard to take care of will continue to take advantage of opportunities. Now, not every employee steals, just like not every customer walks out without unpaid merchandise. But those employees that do steal cost far more per incident that most nearly any shoplifter. Employee theft is the most costly type of crime against business. Fortunately, most of that comes at the register or point-of-sale.
We have a solution. Let your existing CCTV system keep close tabs on your register transactions and other vital elements of your business. Intellex DVMS (digital video management system) will allow you to tie 1-16 registers into your video system, then gives you all the tools you need to search and find exceptions, identify troublesome trends, monitor suspicious activity, and so much more. And just imagine what a training tool you'll have with all the text from the register on the same image as the corresponding video segments. You can even merge-in the audio if you wish!
Best of all, now you don't even need to be there. Now you can get all the control from this powerful tool from anywhere on your network or internet. Check remote locations in just seconds using the powerful remote access software included with the Intellex. Other solutions are also available. Check some of the links below for more information. Or, to speak with someone live, contact us and we will be in touch with you within 24-hours.
Find out today what your actual shrinkage numbers are. Ask about a free form to assist you in calculating your companies actual shrinkage amounts. The results will surprise you!