Using a Theft Policy to Cut Theft in Retail Businesses
Using a Theft Policy to Cut Theft in Retail Businesses
Theft in retail stores is assumed to value retail businesses between two and 5 % of sales annually. A theft policy might be the best step toward reducing the cost of theft in your retail business.
Customer theft and employee theft kills retail businesses. Despite knowing it exists, theft is often enabled by retailers not participating with the challenge in an exceedingly skilled and consistent way.
Theft, especially employee theft, is like the elephant within the room. Everyone is aware of that it exists however it is rarely mentioned or acted upon.
Every retail business wants unrelenting commitment to understanding, cutting and managing the theft opportunity and risk.
A smart starting place in any retail business for managing the scourge of theft is in the development of a Theft Policy. Such a document lays out the position in relation to theft and the steps to be taken should there be a affordable suspicion of theft occurring.
Here is that the define of a Theft Policy which I use when operating with retail businesses. It's designed to be posted on a noticeboard in the back room of a business.
THEFT POLICY
Don't steal from this business. Whereas this could appear like a comprehensible statement, we tend to state it here as a result of taking money for a drink is as serious a criminal offense as stealing a significantly larger sum.
What we tend to contemplate stealing would range from the taking of any amount of money through to any variety of products that rightfully belongs to the business or its customers.
Theft by workers and customers is a reportable crime.
All occurrences of theft detected will be reported to the police.
If you believe an employee of theft, please report it to your manager or their manager (if appropriate) immediately.
Please acknowledge customers as they enter and leave. Make certain they see you see them.
If you believe a customer of stealing, please report it to your manager immediately and watch the client carefully.
If you see a process or policy which places the business at risk of theft, please report it.
Theft kills retail businesses. Facilitate us build a robust and healthy business for everybody here. Help us cut theft.
Whereas not all that sturdy on the legal prose, this Theft Policy is intended to be accessible to everyone operating in a retail business. It ought to be personalised to your business circumstances. Consider having the business house owners sign it to personalise it even further.
Update the Theft Policy at least each year. Ask key staff for their feedback as they will have suggestions which result in an improved policy for your business.
The most effective method to chop theft is to extend the danger of capture. You are doing this by establishing a Theft Policy and being consistent in pursuing this.