With the holiday season, retailers are bustling with business. However, this busy season might come with fear about theft and loss of revenue. Between your customers, your employees, and accidental errors, losses can come from all over. Instead of getting overwhelmed about loss, do your best to find out where theft is coming from, and how you can best deal with this situation.
1. Make policies for the “friends and family discount”
According to Statistic Brain, employee theft is a crime that is costing U.S. businesses $50 billion annually. Make sure your employees are not cashing out their friends or family. Often employees want to help their families get the best discounts, and sometimes this can come at the cost of stealing or using expired coupons. Make it a policy to have non-family members cash relatives and friends out to reduce the pressure for an employee to make the wrong choice.
2. Have protocols for monitoring the cash register
The cash register protects the lifeblood of your business, your money. Take some time to develop best practices for keeping an eye on the cash register. Instruct employees who are responsible for running it not to leave the drawer open and unattended. Always have someone near the register to keep an eye on the front of the store and to welcome customers as they enter.
3. Organization is key
It is a good idea to make sure you organize and clean every night to ensure that your employees have a clear line of sight from the front of the store to the back. Think about the positioning of displays, shelves, and signs. Are they set up in a way that allows customers and employees to see each other clearly? If not, do a little redecorating. Making it easy for employees and customers to see each other can prevent theft.
Keep easily stolen items close to the front of the store near the register where a cashier is present to keep constant watch.
4. Outsmart the shoplifter
Label switching, returning stolen merchandise, and hiding products inside purchased merchandise are all tactics that shoplifters use to sneak stock through the register. Have employees check for proper SKU’s, have the appropriate receipt when returning, and look through merchandise with places that someone could hide small products.
5. Install a professional monitoring system
While you might try to keep an eye on your business all day, every day, that is just not possible. However, with a security system installed and monitored by the professionals, you will have a partner who can keep a watchful eye on your business 24/7/365.
Let EPS Security be your commercial security partner. We can help create the best system for securing your small business. Our team will provide a comprehensive security analysis and system quote customized to your business, your needs, and your budget.