It’s amazing how often a really great interview plays such an essential role in closing out an organized retail crime case. Read More
Employee Theft in the retail industry, also commonly referred to as internal theft, occurs when an individual steals from the company where they are currently employed. While other types of retail theft often garner more attention, employee theft typically causes the most damage to retailers on an annual basis, carrying the greatest financial loss and a substantial impact on the business.
In most situations, retail customers only have access to merchandise on the selling floor—which is protected by the sales team, loss prevention personnel, and various anti-theft systems and controls. Employees, however, have greater access to more systems, more products and more areas of the store than customers. They have access to merchandise in the stockrooms, receiving, or shipping areas where CCTV surveillance, EAS tags and other anti-theft devices may be less effective.
Find out where the real threat to your company lies by reading this FREE Special Report, Employee Theft: Statistics, Interviewing Techniques and Tips to Optimize your Employee Theft Policy.
They may also have access to cash from customers, register drawers, or the cash office. Those with access to the POS register system may be provided with ample means for other theft and fraud issues. Employees know the store team members, learn their habits, follow their schedules, and can take additional measures to avoid detection. Simply stated, employees have a much greater opportunity to steal. As a result, employee theft can affect a business much more quickly and to a significantly greater extent than most external theft incidents.
Employee theft incidents can occur in a variety of different ways. Theft of merchandise, cash and cash equivalents, product consumption, theft of equipment and theft of services are some of the more common issues. Yet as varied as the types of theft may be, there are even more different methods of theft that can used by employees to steal from their companies; only limited by the creativity of the individual and the opportunities that are presented. There are also a variety of reasons that can lead employees to make the ill-advised decision to steal. Personal issues, financial problems, peer pressure, drug and related dependencies, and coercion are just a few.
Most employees are honest and hard-working people with honorable intentions. However, when employee theft issues occur, it can lead to significant concerns that can impact the store in many ways, reaching far beyond the financial losses caused to the company. It impacts retail sales. It impacts retail shrink. It impacts the company brand and reputation. It also impacts all of the hard working associates who give their best each and every day.
Whether you’re in loss prevention, asset protection, human resources, audit compliance, or even law enforcement: when it comes to being a good business partner or good member of the community, you have to think about your role outside the scope of your normal job. Read More
When I say “perspective,” what I’m really trying to talk about is how I might view a situation versus how you may view a situation, versus somebody else, versus the way a situation actually occurred. Read More
Who’s better at interviewing: men or women? You’re probably thinking that a post written by a woman would contain a clear-cut answer, firmly tilted towards—women. This should be a slam dunk, no-brainer, obvious as can be. Read More
Everyone has known an Eric. He was the person who could join a crowd and seem to know everyone moments later. Walk with him into a crowded pub, and in minutes, he would be laughing and moving from person to person as if he had been a regular there for Read More
The subject may state something like, “I wouldn’t have taken that money because I love my job.” How do you handle that type of denial? Read More
Evaluating interviewer performance is one area that can be difficult to measure against the department’s overall expectations, but can be a major return on investment for the interviewer and organization. Read More
One of the struggles that people have while conducting a phone interview is developing rapport as well as keeping someone engaged and involved over the phone. Learn more in this video tip of the week from the archives. Read More
To the extent possible, it’s good to keep high-value assets and critical material separate from employees, but that’s not always practical. Read More
This week’s International Association of Interviewers interview and interrogation training tip (from the archives!) has Dave Thompson, CFI, discussing the importance of withholding key evidence during an interview or interrogation. Read More