This Episode: Dealing With Retail Theft
Theft and fraud are a reality. As a business person, one of your jobs is critically thinking about and dealing with these issues. In today’s Real Retail TV, we’ll talk openly about this often painful reality.
Thank you for joining me for this difficult discussion. If you have any comments or questions, please post them below. I love to hear from you!
Could you share an example of checklist for when employee quits?
Katrina, any employee who leaves should be paid promptly and have their key collected. Depending on your store entry system, I recommend changing the locks, most certainly if the employee has been fired. Exit interviews for employees leaving on their own can bring insights and are often worthwhile. Our Retail Mastery System’s Staff Development module helps you create all the processes you need for hiring, developing, and even firing staff.
Excellent conversation and advice as always Bob. Here’s a tip on how customer theft can be deterred with cash wrap placement. Positioning the wrap so that your staff has clear sight lines throughout the store will help reduce customer temptation. AND greeting each customer will let the customer know they have been seen.
Great tip Anne. Thanks!
Great points as always.
We count the drawers blind, they know how much is supposed to be there to start tomorrow but don’t know how much was supposed to be in there.
To save on locksmiths we assign everyone their own alarm code, this also provides reports of who enters / exits with times. We can then just disable a code without having a locksmith come every time a keyholder leaves (locksmith actually gave us this tip).
Great additions Neil. Thanks!
All great points to follow up on. I especially like the check list when an employee quits or is terminated. Usually the employer is rattled & needs to think clearly which is difficult…so many passwords!
Thanks Marie. I appreciate your comment!
On the drawers, I also test the till closing procedures. I will occasionally add in or remove money from a till, without anyone knowing. At the end of that night, I better get a phone call that the till is off. So, I verify that nobody is just forcing the till to be correct at the end of the night and they are truly reporting the real totals.
Trust, but verify. Great point Cyndi!
“Trust but verify” is my motto. I have caught seemingly good employees committing time card fraud. It isn’t personal. They just earn a firing.
Yep. It’s not personal.
Good points and they work! One item I would add is that, before you hire anyone (even relatives), do a background check. It is well worth the time and cost. Just letting prospective employees know that background checks are a part of your hiring process will weed out a few.
Bob maybe the biggest theft is the employees that stand around not providing great customer service and let the merchandise walk out the front door.
Great point Don! Thanks!
Great point Carroll. Thanks!
What site do you use to do this background check?