Everyone wants trustworthy and loyal employees but unfortunately that is not always the case. While shoplifting is a huge concern for retail owners, employee theft ranks just as high. Some retailers even say employee theft is a larger problem than shoplifting.
To combat this internal problem, always keep a watchful eye and follow these five helpful tips.
Check inventory frequently. By keeping an eye on inventory at all times, whether it is through random spot checks or cash register reconciliation, employees are warned that management is on top of it. There will be no room to steal.
Stop by the store unannounced. Employees are more likely to steal when they are not being watched. Unannounced visits by management will keep them on their toes and you will discover suspicious behavior that occurs behind the scenes.
Track inventory. Implementing some inventory tracking system creates a systemized approach to managing the flow of store products. Many systems automatically update so as a manager you have access to real-time inventory information.
Monitor deposits. First, ensure deposits match the sales figures. Second, check that the deposits follow a consistent schedule. If the schedule is off, for example the deposits go from once a day to every other day, inquire into the change of schedule.
Promote honesty. Training employees from the very beginning on the importance of an honest work ethic will hopefully lead to trustworthy employees. Encourage each person to call in anonymous tips if they notice or suspect a coworker is stealing from the store. This will create accountability among all employees.
Following these tips will lessen your risk at employee theft. The first line of defense is always clear communication that you do not tolerate such behavior and serious repercussions will result if you discover an employee in the act.
For more tips on retail security, call Community Commercial Security at 714-777-6132.