Employee theft: Statistics will alarm you
Get the truth, along with the most critical part of an effective employee theft policy in this FREE Special Report
Dear Loss Prevention Professional,
If you think customers are your store’s biggest LP problem, you’re sadly mistaken.
All of the most recent employee theft statistics prove it: The major reason for inventory shrink in the United States is dishonest employee theft – to the tune of $186 billion. If you weren’t worried before, you should be now.
That’s why >LP Magazine, the leading information resource for loss prevention professionals, has written this Special Report, Employee Theft: Statistics, Interviewing Techniques and Tips to Optimize your Employee Theft Policy. This is a complete, in-depth survey of the extent, causes and solutions to employee theft. And it’s FREE.
Is this report something you can trust? Absolutely: It comes from LP Magazine, formerly known as LossPrevention, which was founded in 2001 by loss prevention professionals to fill the void for news, information, and educational content for all LP pros. Over the past decade and a half, LP Magazine has established itself as the premier voice of the LP industry,providing in-depth, timely articles for LP professionals and retail management.
Our custom publishing arm also delivers education and training to retail organizations on critical loss prevention, safety, and operational policies and procedures. What’s more, we’re deeply involved in the training and certification provided by the Loss Prevention Foundation, and we’re also aligned with our sister company, LPJobs.com, the leading retail security and loss prevention employment site on the Web.
You can see that we live, sleep, eat and breathe loss prevention. So why not take this rare opportunity to get something valuable for absolutely nothing? Download Employee Theft: Statistics, Interviewing Techniques and Tips to Optimize your Employee Theft Policy right now!
This Special Report is designed to make you a better LP pro – better at catching the bad guys and, more importantly, better at preventing theft in the first place. Don’t let your career be sidetracked by something you underestimated! This report will help you …
• Understand the threat to your organization that employee theft represents
• Learn to identify employees and potential hires who are more likely to steal
• Discover the role that wages and benefits have on employee theft statistics
• Integrate employee theft prevention into your day-to-day LP responsibilities
• Establish best practices that could save your organization millions of dollars, and put your career on a fast track to success
Employee theft statistics don’t lie: Your external LP measures are no match for internal threats
One of the most troubling things you’ll understand when you read this report is that almost all of the theft countermeasures your store probably provides are directed at the wrong people – EAS tags, cameras and security personnel, for example. Your organization spends an inordinate amount of money, and you spend most of your time, on these measures. Yet none of them impact the greatest threat to your inventory.
Statistics from countless studies and surveys show that the greatest economic damage is caused by dishonest employees, not shoplifters. Retailers have reported that between one-third and two-fifths of their losses are believed to be the result of dishonest employees stealing from the firm, or by letting others steal from the store through behaviors like sweethearting.
In fact, not only are some of your shoplifting countermeasures ineffective against internal theft – some of them actually make it worse.
For instance, you’re probably familiar with the concept of good customer service as a deterrent to shoplifting. But are you also familiar with the dangers of that same good customer service? If the term “sweethearting” is new to you, perhaps you should read this Special Report right now … because you and your store may soon fall victim to it, if you haven’t already. Right now, management could even be rewarding the very employees who are responsible for as much as 35% of your store’s profit losses!
But when you read Employee Theft: Statistics, Interviewing Techniques and Tips to Optimize your Employee Theft Policy, you’ll learn how exactly sweethearting works, how it leads to employee theft, and, of course, how to prevent it, starting with employee interviews. Why wouldn’t you want to download and read this detailed, actionable Special Report?
Just who is stealing from you? Employee theft statistics are clear.
This Special Report also delivers some invaluable information: Who is stealing from you and why. Once you understand what to look for, you’ll be better prepared to identify and weed out the dishonest employees from your company’s staff.
Is it men who are more likely to steal? Women? Old or young? What level of employment have they reached? How long have they worked for you? Did you know that the two best predictors of a store’s shrinkage level are employee turnover and job dissatisfaction?
We’ve got the specifics from studies that zero in on the answers to these questions. In some cases, you’ll learn, it’s male employees who are your greatest threat. In others, it’s women and minorities: It all depends on who feels the most disaffected from your company and from management. It’s alarming to think how many disaffected people are already working for you right now!
Fortunately, you’ll learn in this report how to better pre-screen applicants and what to look for so you’ll reduce the number of potential thieves. Did you realize that simply adding a few new questions to your applications, such as how an applicant feels about the social approval of others, can make a huge difference in the trustworthiness of your front-line staff?
Stopping employee theft: Statistics might show us the way
If you do keep up with the latest trends in loss prevention, you may have heard the suggestion that raising wages could be a strong deterrent to employee theft. You’ll be intrigues by a cost-benefit analysis of increasing employee wages to prevent that dissatisfaction I just mentioned as a cause of employee theft.
If you haven’t already read about it, here’s something surprising: This study actually predicts that lower rates of employee theft would cover some 39 percent of the cost of increased wages.
Given the widespread debate about raising the minimum wage, it certainly behooves an ambitious LP pro to understand this kind of data: It could be crucial to your career advancement.
The studies authors also predict other benefits from such a wage increase, which you can read about in the study. You’ll get a 360-degree look at all sides of this issue, all information that’s worth your time and effort to study … if you want to increase your own wages and enhance your career, of course.
There are other measures suggested in this report by our theft experts that you’ll want to read about, of course: Looking for certain characteristics for in potential hires when interviewing, increasing managerial supervision and lowering manager turnover, and other suggestions.
Though many of your peers overlook it, you can’t become a better LP pro without a thorough understanding of employee theft. I urge you to download this Special Report right now, and give yourself and your career a major advantage over all those others.
Yours for a successful LP career,
Editor & Publisher
P.S.: Who else might be stealing from you? Among many others, it’s often older employees with financial problems such as divorce or bankruptcy. Read Employee Theft: Statistics, Interviewing Techniques and Tips to Optimize your Employee Theft Policy to learn who else is likely to steal.
P.P.S.: Can you explain to your employees how their interests are tied to the store’s? If so, you’ll put a dent in employee theft. There are many other similar steps you can take in this FREE Special Report.