Increased Turnover Leads To A Higher Risk Of Employee Theft
It may never have occurred to you but turnover in a store can lead to employee theft and make it more difficult to stop shoplifting. Each time a new employee is hired into a business there is a certain amount of unknown. The management team does not really know this person unless they have worked with them somewhere else. If a pre-employment background check was not completed it is not known if the person has a criminal history. An interview process may not be a reliable indicator of who it is you are hiring. There are those people who can project one image in an interview and they are someone completely different in the workplace. Having a stable business with little turnover can be in the best interest of a store owner. New hires may also be reluctant to provide aggressive customer service to shoplifting suspects. This can increase external theft in a store. Let’s be honest retail tends to have a lot of turnover and therefore owners can expect to fill job openings on a regular basis. With this challenge, it is important that manager training to prevent employee theft and stop shoplifting is a priority.
How do you as a store owner train your managers on how to identify and prevent theft activity if you are not an expert in it yourself? The best solution would be to seek the services of Loss Prevention Systems Inc. to conduct manager training to stop employee theft. The owner and CEO of Loss Prevention Systems Inc., Bill Bregar has developed a training program that instructs managers at any level of the retail business. Bill brings a wealth of knowledge from his experience as a U.S. Army Military Policeman to his positions at the National Director level for large retail chains. He has incorporated these experiences into training programs that are proven to help small business owners significantly reduce employee pilferage and shoplifting. As someone with 4 years of U.S. Air Force Law Enforcement experience and over 17 years in retail Loss Prevention and Loss Prevention Management myself, I am impressed with the training opportunities offered by Loss Prevention Systems Inc. The quality and depth of information in an understandable format is unparalleled.
How much of an issue can turnover really be in retail? According to ”Linkedin’s data on half-a-billion professionals” turnover in retail and consumer products had the second highest turnover rate at 13%. Linkedin, “These 3 Industries Have The Highest Talent Turnover Rates”, by Michael Booz, March 15, 2018. https://business.linkedin.com/talent-solutions/blog/trends-and-research/2018/the-3-industries-with-the-highest-turnover-rates Chances are if you have not experienced this type of turnover you are doing something that most managers are not doing to keep people on board. This also means you are probably in the minority of store managers. Whatever you are doing to keep your people, keep doing it. But even you need to know that if you are going to grow your business you are going to hire people and as a result you must know how to prevent employee theft from taking place.
A good training program is going to cover:
• How pre-employment screening and drug testing reduce the chance of hiring people who may steal from your business.
• The importance of customer service to stop shoplifting and how to do it effectively.
• Indicators that dishonest employees are stealing or shoplifters are active in your store.
• Retail anti-theft devices and systems.
• Various methods of theft used by employees.
• Various methods of theft employed by shoplifters.
• How to properly respond to electronic article surveillance alarms and do so safely.
Loss Prevention Systems Inc. incorporates all of these points into the different training sessions they offer their customers.
According to the website statisticbrain.com 75% of employees have stolen from their employer and 37.5% have stolen at least twice from their employer. The more turnover your company experiences the more likely you are to have employee theft taking place. Learn what you can do to decrease the chance of hiring a crook and how to identify them if they start to steal through Loss Prevention Systems Inc. training classes.
Need information on employee theft? Give us a call at 1.866.914.2567 now.