No one likes to think of their employees as thieves. The downward-trending economy paired with lack of employee supervision and poor pre-employment screening are contributing factors in the rising rate of employee theft.
A recent study conducted by the Jack L, Hayes International loss-prevention consulting firm looked at theft rates at 23 large retail companies with more than 18,900 stores. In 2012, 71,095 employees were apprehended for theft, up 5.5% from 2011. And, it’s not just that more people are stealing. The amount stolen was up 7% in 2012, for a total of more than $50 million.
Employee theft not only leaches profits from the company, it necessitates higher prices for customers. In general, the study suggests, it’s new employees (hired less than a year ago), and part-time or seasonal employees that have the highest theft rates.
Rates of shoplifting are also on the rise, likely also partially due to the poor economy in the last few years. Jack L. Hayes International suggests that this increase is likely due to reduced customer service and supervision for customers (less employees on the floor), along with greater instances of partner or organized retail crime, and the relatively low risk of consequences for shoplifting.
If you own or manage a retail business, one surefire way to reduce the theft rate among both employees and customers is to hire a security guard. A friendly yet alert security guard will help people to feel secure at your location as well as stop potential criminals from acting on their impulses. If they know someone is always watching, they’re less likely to try.
If you’re considering hiring a security guard for your commercial or retail location, give us a call or fill-out our online form to request services. We can talk more about the benefits and give you a free quote.
