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    1 Reply Latest reply on Aug 21, 2009 4:13 AM by LUCKIEST

    Loss Prevention and Asset Protection

    businessSIR Adventurer
      Alot of times today small businesses that just start up over look one critical area that could save their company. Each and every company in some form or another can reduce loss and increase its profits.

      Some basics steps to follow are; pre-employment screening, shrink focus plans, good customer service, and a strong focus on safety.

      Alot of small businesses do not like to talk about potential loss to their company but if you do not plan for it you are setting up for failure.While some large companies are able to write off loss due to theft, and safety hazard lawsuits, small businesses arent usually able to do so. Capital is scarce in most small businesses and sometimes profits are used to purchase items for the company.

      Here are the 3 ares of concern to think about; external loss, internal loss, and paperwork mistakes. Believe it or not it is very easy for an employee to accidentally hit one zero instead of two when taking in a hundred dollar bill. Also shoplifters and organized retail criminals have grown in recent years and have cost company's world wide billions. And over 70 percent of all theft that occurs to a business does so from the inside. Keep in mind that 30 percent of employees think about stealing and another 30 percent actually steal. So in-turn 3 out of every 5 people have the potential to create loss to your company.

      I hope this has been informative and remember if you have the ability to earn you have the ability to lose.