Employee theft accounts for more
than 44 percent of all retail loss in the United States .*
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Inventory Shrinkage:
· Employee Theft 44.5%
· Shoplifting 32.7%
· Administrative Error 17.5%
· Vendor Fraud 5.1% |
The
research revealed that employee theft accounts for the majority of
retail theft in America. According to the report, retailers lost 1.7% of
the total annual sales in 2001.
This result was a combination of employee theft, shoplifting, vendor
fraud and administrative error. Since the retail
economy accounts for $1.84 trillion annually, the loss is estimated at
$31.3 billion.
This is larger then bank robbery, household burglary or even vehicle theft
COMBINED!
At ESLI, we have found that a reliable surveillance system
can help reduce this problem significantly. With today’s DVR surveillance
systems, you can view your business from your home, office or
from
practically anywhere in the world with an
Internet connection. And unlike traditional VCR tape surveillance systems, DVR’s
store the image on a hard drive. This enables you to search events by the date,
time and other variables. Also, a majority of business owners are using DVR
systems for time management, customer behavior and traffic flow.
We will never completely stop employee theft, but by following a few steps like;
keeping vigilant, improve employee job satisfaction,
conduct employee background screenings and keeping your CCTV
surveillance system up to date you can help reduce your loss.
*Study
conducted by the University of Florida
Richard C. Hollinger, Ph.D., is the study's author
*Must have text messaging on cell phone
*With internet service
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