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    1 Reply Latest reply on Sep 6, 2009 2:04 PM by LUCKIEST

    Internal loss

    businessSIR Adventurer
      If left alone internal theft can close a business before it even has a chance to really get started. The U.S. Department of Commerce states that internal theft (one of many kinds of internal loss) cuases up to 50 billion dollars annually. This kind of theft is responsible for up to 80% of company loss. Employees who steal from your company are creative, and know the laws better than most police officers. A good internal auditing and loss prevention/asset protection program is essential for small businesses to keep loss at a minimum.

      There is a loss triangle that we in the loss prevention industry use to look at how money is lost. Internal, External, and Paperwork Mistakes. Here we will talk about the internal issue. An employee that constantly takes 5-10 dollars from your register here and there is going to start to become bolder in what they take. The employee could even be hard working and cause this loss. No one likes to talk about how this can happen to their business. But it doesnt have to be a negative thing to have a loss prevention program in place. A good (LP) program can reduce opportunity for lawsuits, keep an eye on all money transactions, and help increase profits.

      If you need help developing a Loss Prevention program or help with an internal theft matter email me at...businessir1@yahoo.com. All information shared is confidential and consultations are free. Also you can look us up at www.businessir.wetpaint.com