25% of economy in Atlanta is based on retail and close to half of all retail inventory losses are due to employee theft. Imagine what a boost the Atlanta economy would realize if businesses cut their losses in half or more.
Employee theft accounts for the largest source of inventory loss to retailers beating out the #2 source, shoplifting. Many retailers are surprised to find that the people they trust and socialize with are stealing them blind.
The University of Florida reports annually on retail security and the report is considered to be the “Bible” of the loss prevention world. In the 2009 study they found that 42.7% of inventory loss was due to employee theft and 14.4% involved collusion. Employees are teaming up with friends and family giving them the inside scoop of how things work in the retail store. They offer tips on how to avoid security cameras and even check them out and pass merchandise through without scanning it.
An Atlanta store owner called us because he suspected a long time employee of taking cash from the register and from back office receipts. During our investigation, it was determined that the store had also been losing merchandise at a higher that normal rate, and the cause of the shortage was unknown. After determining some of the items (some of the items were one-of-a-kind), our investigator found evidence of an Ebay store that had the items for sale. For more CSI (Caught Stealing Incidents) go here: CSI.
The good news is this problem can be identified and stopped. For help with your employee theft issues in Atlanta visit Loss Prevention Systems today.
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