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    5 Replies Latest reply on Dec 28, 2010 8:28 AM by christene

    Employee Theft?

    db2245 Newbie

      I know it's a big problem, but I would love to hear your stories of employee theft, how you dealt and what type of theft it was.

      I have dealt with a few employee theft matters during my years as a business owner and I am constantly surprised at how often it occurs.

      Share your stories, offer advice.

      We are looking at installing video cameras in the business, any advice on products too?

      Thank you and have a happy business day!
        • Re: Employee Theft?



          I read your question, and I wanted to give you some feed back.


          Cameras are a good investment. However, no matter what you decide to do- based on economical and practical factors- it is a good idea to have a talk with all the employees and discuss what is going on.


          Not on "stealing" terms, but on softer tones, by sharing with them that due to loss of inventory, you are looking into installing systems that will decrease this issue...after all- if products are lost, then, that affects ALL in the company...and salaries, bonuses, suffer.


          Apart from having your employees "buy in" into your new policy/ies,  you want to foster the sense of community, by getting their feedback.


          Employees are more likely to support a cause, if they are involved in the creation of it. Why? Because they are responsible for making it happen.  By supporting the policy/ies they are directly supporting their egos.


          Lastly, employees are less likely to steal from their employee, if they feel they have a relationship with the company. If they identify themselves with it. If they buy in with what the company stands for, and the people that run it.


          That is why thieves are more likely to steal from a stranger (no emotional connection there) than from a family or friend.



          • Re: Employee Theft?
            LUCKIEST Guide

            The objective is to maximize profits through reducing retail theft, also known as shrinkage.


            Rge sources of loss / shringage


            • 46.% from employee theft,
            • 33.% from shoplifting
            • 15.% from administrative error
            • 4.% from vendor error
            • 2.% from unknown error.


            Although most retailers experience a shrink percentage of less than 2%, some smaller retailers often experience monthly and annual average shrinkage percentages as high as 20%.

            • Employee Theft?

              plz can somebody first make me clear the term employee theft??? as i hv been considering it from perspectives!