Companies today lose in excess of $600 billion dollars per year in theft. Theft is committed by employees and customers and it is the reason why one third of all companies become insolvent and bankrupt. No company or firm is immune to theft. Companies in manufacturing, retail, wholesale, service & hospitality or in technical industries experience theft. They experience losses in inventory, money, parts, components, supplies, and information. On average, a company must generate an additional $20 dollars in sales for every $1 lost to theft. Without education and an effective loss prevention program, a company’s profit margin will suffer!
Non-Employee Theft - otherwise known as "shoplifters," are broken down into two categories, Professional and Non-Professional.
Professional - these are the minority shoplifters who steal and then usually resell the stolen merchandise for profit. These individuals also have a propensity to commit other crimes.
Non-Professional - these individuals comprise and are responsible for the majority of the committed shoplifting. They are made up of people that are adrenalin junkies, depressed, anxious and/or easily influenced by their peers.
Employee Theft - the Department of Commerce and other organizations have estimated that employees steal more than $1 Billion dollars per week from their companies. It is sometimes very difficult for a manager or company owner to come to grips that an employee that was hired and was placed in a position of trust can act in such a disloyal and dishonest activity.
Common Misnomers:
- Customers steal more than employees.
- Upper management can be trusted and won't steal.
- Employees can be trusted to report theft in a timely manner.
- Theft is usually caught in the early stages.
- Education of the consequences of stealing is not helpful.
HOW CAN WE HELP?
The first step is EDUCATION! Risk Investigations will educate your company so that your employees have a clear understanding of how theft in the workplace is consequential to the company's profit margin and how it's intolerable from its employees. We will educate your management team on how to "expect the expected," and follow through on procedure so that theft does not occur.
Risk Security & Investigations will complete the following:
- Perform a Comprehensive Audit - we will identify current possible thefts and identify different areas that offer the opportunity for theft. Once these areas have been identified, we will will develop an immediate plan that will reduce, if not eliminate, your company's theft risk.
- Train management and employees - we will educate your staff how theft affects them and how they are key to being part of the solution.
- Implement a Loss Prevention Program - UIS will develop a program that will provide the continuity required to minimize dishonest activity. We will establish physical procedures that will discourage theft and will also create obstacles for those intending theft.
- Uniformed Guards - Risk Security & Investigations can provide uniformed security personnel on premises to help alleviate theft.