Employee Theft from small business can run into the thousands in lost revenue and can really affect the bottom line for a business. At MIS, we have been contacted on numerous occasions to investigate the disappearance of products, equipment and even time from businesses.
By the use of surveillance, undercover agents and covert cameras, we have been able to identify the offenders involved in the theft and afforded the business owner to take action against the culprits.
By taking action against the offenders, the businesses have avoided making further losses and have increased productivity which is the main concern in these cases.
Loss Prevention Tools & Strategies
Loss prevention continues to be a major concern for retailers, and for good reason: losses due to employee theft, admin errors, and shoplifting cost you a lot of money.
Clearly, retailers need to be more vigilant about loss prevention. To help you do that, we’ve put together a list of solutions for reducing shrink and improving store security.
From tools that you can install easily to technologies that require a bit of an investment, below are a few quick and low costs ways to reduce losses.
1. Signage
Installing security signs in your store is a low-cost way to deter shoplifters and shady characters. Anti-theft signs should be fitted close to the entrance and near your fitting rooms.
Here’s a tip. Walk into your store and ask yourself: If you were a shoplifter, where would you go? The answer to that should help you determine the best places to install your signs.
2. Cameras
If you’re willing to invest a bit more in store security, consider installing surveillance cameras in your stores. Doing so will allow you to monitor store activities 24-7, and it’ll give you recordings that you can revisit if necessary.
3. Mirrors
Not too sure about using cameras in-store? Consider mirrors instead, which can serve as inexpensive yet effective tools for spotting shoplifting and other suspicious activities.
Do a quick walk-through of your store to see if there are any blind spots. If you spot some, then you may want to may want to install security mirrors to monitor those areas. Typical blind spots include corners that aren’t too visible from the cashier’s side, as well as areas which are blocked by fixtures or shelves.
And the good news is, it’s quite easy to purchase these mirrors. You’ll find a lot of them online or in the nearest office supplies stores, with price ranging from around $30 to $300.
If you have an issue within your business and would like to discuss the problem with one of our investigators, please contact our office on 1300 120 612.