Businesses are created with the main aim to make a profit. However, certain hindrances may occur which could prevent this from happening. At the top of the list is theft. Theft is a major problem for businesses, both the big established businesses and the ones which are just starting out.
This shared problem was found out to have caused a total of $62 billion in losses for retailers during 2019. This shows how harmful a simple swipe could be to a business as this could not just lead to a loss in revenue but could also lead to a shutdown of the business, or worse, debt.
So, how exactly can this awful act be curbed? Here’s how you can avoid losing another dime to business theft:
Build a Relationship With Your Workers
You should be able to trust your employees more than any other stranger. They should come after family and friends because your business relies on them. Your employees should also be able to trust you as well. This can only happen if there is a good relationship among yourselves.
Building good relationships with your employees starts right from the hiring process. A simple smile can go a long way in building trust. You should also keep a close check on the employee’s spending habits, lifestyle in relation to earnings, and so on.
You should however not be excessive to the point where it would seem that you are intrusive on the person’s privacy.
Watch Your Cash Register
In the first instance, the person in charge of your cash register should be someone you trust. However, trust is not always enough. To properly contain any possible cases of theft in your business, you may need to apply special protocols which would deter the person behind the counter from making away with swipes or from giving undue discounts to friends and family.
An example of an effective protocol would be counting the money which has been made at the end of the day by a manager. This does not have to be frequent because everyone lines to feel trusted, however, this should be done regularly but at irregular intervals.
Watch Your Stocks
If you happen to be selling commodities, merchandise, and goods, it is never a bad idea to keep a watch on how many goods are being delivered and how many do you end up selling. This is because shoplifting does not come from customers alone. This awful act can also be found among the employees.
You can limit the amount of theft that takes place is by limiting the number of people who have access to these goods before they are sold. You should also keep a count on the less expensive and countable products because they are an easier target.
Another way is by having checks at the point of exit for any possible swipes. However, if you feel this would be too rigid, you can place a limit on the amount and sizes of backpacks and purses which are allowed in the store.
Reward the Good as You Punish the Evil
There are surely going to be bad eggs in your organization. It is up to you to make sure that there is an easy way by which other employees can report any of their co-workers whom they find guilty of suspicious activity.
When this happens, you should embark on an investigation to check the authenticity. If confirmed to be true, you should take necessary actions against that person.
However, while penalizing a person guilty of an offense, you should also reward the person who brought the issue to light as this would encourage others to also report suspicious activity while designing from it.
Always Keep a Close Eye on Everything
It’s hard enough trying to protect your business from thieves and robbers. You still have to protect it from internal theft, the best way to do both effectively is by watching everything that goes on in your business environment.
This can be done through the employment of security cameras. Reliable websites such as smssecurity.com.au provide the kind of services in addition to security alarm systems. Through this, your business can be theft-proof.
Business theft is really dangerous to businesses that are only beginning to thrive as well as those that are already made. Sadly, this theft does not end with shoplifting or burglary. It could also come from employees, for employees, they don’t just steal physical commodities but also things you have never really thought much of, such as; company time.
This may not really seem like a big deal but it usually ends up having a huge effect on the entire business. So, necessary steps should be taken to prevent such actions.
