6 Tips To Reduce Employee Theft

Storeowners don’t want to think their employees will steal from their store. But every day merchants discover that their trusted staff members have done exactly that. According to a retail theft survey conducted by Jack L. Hayes International, a loss prevention consulting firm, one out of every 40 employees was apprehended for theft by their employer in 2012. The survey also found that on average, employees steal 5.5 times more than shoplifters on a per-case average ($715.24 vs $129.12).

Thankfully, there are ways to surround yourself with staff you can trust. Here are six tips from our experts:

Weed out bad apples.

Run a background screening and a drug test on all potential hires. Employees with drug addictions are at higher risk for stealing to support their habit. “I believe that past behavior is a good predictor of future behavior,” says King Rogers, chief executive officer of the King Rogers Group, a loss prevention and security management consulting company. “If someone has been convicted of theft in the past, then you don’t want them handling your money.”

Use the buddy system.

Often theft happens when one employee is alone in the store or at the register. Doyle recommends having two employees work for both opening and closing to limit opportunity. Always have refunds and voids witnessed by a second employee or a manager as well, says Mark Doyle, president of Jack L. Hayes International. Rotate the employees paired together and avoid having close friends witness transactions for each other.

Keep a virtual eye on employees. Continue reading 6 Tips To Reduce Employee Theft