Employee theft linked to rising prices – Atlanta Georgia

Statistically the number one reason that businesses raise their prices is to offset loss.  Secondly they raise prices to offset an increase in cost from the vendors.  Both of these can be strongly influenced by internal theft (also known as employee theft).

Employee theft is the number one causer of loss in major retail.  Most studies show internal theft as contributing to 45-70% of the overall losses to the company.  In addition, retailers aren’t the only ones experiencing employee theft.  Vendors and manufacturers have internal theft as well.  No company is exempt.  A vendor or manufacturer can have low level employees taking goods and they can have upper management cooking the books and embezzling money as well.  All of these losses are then passed onto the next person down the chain.  The manufacturer charges the vendors more to offset their losses.  The vendors then charge the stores more when they sell to the buyers.  The stores in turn charge more to the consumer.  One way to help keep prices low for your customers and protect your profits is to conduct an employee theft investigation.  This can be done by a trained manager or can be outsourced to trained LP Investigators.

A proper employee theft investigation is geared at accomplishing several results.  The first result is to find the thief and get rid of them.  On the surface this at least fixes that particular problem.  But the employee theft investigation should not stop there.  It should also look at how much did the employee take and pursue restitution, civil demand and possible criminal prosecution.  This will recoup money for the company so ultimately the losses are minimized.  Additionally, the employee theft investigation should look for others committing the same acts and should look at possible solutions to preventing future losses of this nature.  This provides more long term solutions against employee theft.

For more information on internal theft, employee theft, employee theft or investigation contact us or call 1.770.426.0547 – Atlanta Georgia