Stop shoplifting-3 WC Blog 689
Sensormatic System – 3
Sensormatic Systems Remove Opportunity For Theft Part 2
In the first article we discussed how removing opportunity can stop shoplifting and employee theft. The article came about because of a story I read from Loss Prevention Magazine in which the author discussed this very topic. He made valid arguments about the expense of analytical data to try to determine methods for addressing theft and tracking potential opportunities for theft to occur. He then focused on one strategy for internal theft reduction which I did not take any issue with. I encourage you to read Part 1 of this series so you can find the story I am referencing, it could prove useful to business owners. I then discussed my perspective on data and analytics and how it can become a time consuming task to review all of the information and then make it actionable. Opportunity for employee theft starts in the hiring process and then in the building design and finally how operations of the store work. The author of the article I read would probably be in agreement with me about the employment part but he feels that the labor pool is becoming smaller to choose from with the economy improving.
The first solution to stop shoplifting and employee theft I proposed in Part 1 was the installation of new Sensormatic systems in stores. Not only do new electronic article surveillance towers at the entrance and exits of a store let potential thieves know you are serious about crime, they also let store workers know when an attempted theft is taking place. They don’t discriminate between employees and customers. Anyone trying to take merchandise out that is tagged will activate an alarm. These systems remove opportunity one of the key elements necessary for criminals who want to steal. In Part 1 I also told readers that the best source to go to for Sensormatic systems is Loss Prevention Systems, Inc. (LPSI). LPSI is a company that has been helping retailers with shrink management and theft reduction for over 30 years. They are well equipped to give advice on anti-theft equipment and other methods to curb theft. This leads me to another issue mentioned in the Loss Prevention Magazine article the writer’s argument about hiring being a factor that employers have little control over in terms of opportunity.
I don’t agree that as a “labor market continues to tighten there is little opportunity for retailers to take serious aim at losses from employee theft through more selective hiring” as posed by that author. I believe that the use of pre-employment screening and drug screening of applicants is still a viable option for retail owners and managers. Both of these tools are offered by LPSI as part of a larger strategy to reduce theft and shortage. A pre-employment screening is an opportunity to dig into verifying what an applicant has put on an application or in some cases finding out what was left off an application. There are a number of benefits in conducting background checks but the most important thing to know is it can reduce your chances of hiring criminals. An applicant drug screening helps minimize the chance of hiring a person who uses illegal substances who may take an opportunity to steal from your store to satisfy an addiction. Failing to screen for both of these opens an unnecessary opportunity for a crook to gain employment with your business. Combine the three, Sensormatic Systems, pre-employment background checks and drug screening and you have the makings of a truly impactful anti-theft strategy.
Give a thief an opportunity and he or she will take it and run. Whether you are trying to stop shoplifting or internal theft the tools are available to you to keep it out of your shop. LPSI has those tools and can also assess your business for you to see if there are any other opportunities that have been overlooked. Hire the right people, get the right equipment and hear the right advice and you will create new opportunities to grow your business.
Get more information on Sensormatic systems, contact us or call 1.770.426.0547 today.
In the first article we discussed how removing opportunity can stop shoplifting and employee theft. The article came about because of a story I read from Loss Prevention Magazine in which the author discussed this very topic. He made valid arguments about the expense of analytical data to try to determine methods for addressing theft and tracking potential opportunities for theft to occur. He then focused on one strategy for internal theft reduction which I did not take any issue with. I encourage you to read Part 1 of this series so you can find the story I am referencing, it could prove useful to business owners. I then discussed my perspective on data and analytics and how it can become a time consuming task to review all of the information and then make it actionable. Opportunity for employee theft starts in the hiring process and then in the building design and finally how operations of the store work. The author of the article I read would probably be in agreement with me about the employment part but he feels that the labor pool is becoming smaller to choose from with the economy improving.
The first solution to stop shoplifting and employee theft I proposed in Part 1 was the installation of new Sensormatic systems in stores. Not only do new electronic article surveillance towers at the entrance and exits of a store let potential thieves know you are serious about crime, they also let store workers know when an attempted theft is taking place. They don’t discriminate between employees and customers. Anyone trying to take merchandise out that is tagged will activate an alarm. These systems remove opportunity one of the key elements necessary for criminals who want to steal. In Part 1 I also told readers that the best source to go to for Sensormatic systems is Loss Prevention Systems, Inc. (LPSI). LPSI is a company that has been helping retailers with shrink management and theft reduction for over 30 years. They are well equipped to give advice on anti-theft equipment and other methods to curb theft. This leads me to another issue mentioned in the Loss Prevention Magazine article the writer’s argument about hiring being a factor that employers have little control over in terms of opportunity.
I don’t agree that as a “labor market continues to tighten there is little opportunity for retailers to take serious aim at losses from employee theft through more selective hiring” as posed by that author. I believe that the use of pre-employment screening and drug screening of applicants is still a viable option for retail owners and managers. Both of these tools are offered by LPSI as part of a larger strategy to reduce theft and shortage. A pre-employment screening is an opportunity to dig into verifying what an applicant has put on an application or in some cases finding out what was left off an application. There are a number of benefits in conducting background checks but the most important thing to know is it can reduce your chances of hiring criminals. An applicant drug screening helps minimize the chance of hiring a person who uses illegal substances who may take an opportunity to steal from your store to satisfy an addiction. Failing to screen for both of these opens an unnecessary opportunity for a crook to gain employment with your business. Combine the three, Sensormatic Systems, pre-employment background checks and drug screening and you have the makings of a truly impactful anti-theft strategy.
Give a thief an opportunity and he or she will take it and run. Whether you are trying to stop shoplifting or internal theft the tools are available to you to keep it out of your shop. LPSI has those tools and can also assess your business for you to see if there are any other opportunities that have been overlooked. Hire the right people, get the right equipment and hear the right advice and you will create new opportunities to grow your business.
Get more information on Sensormatic systems, contact us or call 1.770.426.0547 today.
Free Loss Prevention Calculator -3 WC Blog 700
Loss Prevention ROI Calculator – 3
Learn How Loss Prevention Pays For Itself With The Loss Prevention ROI Calculator
Is there a vehicle calculator comparable to the Free Loss Prevention Calculator? Unfortunately the answer seems to be a resounding no. I have been experiencing a number of car breakdowns recently so I started browsing car dealerships on the internet. I have been looking for a vehicle I can afford but it has been a fruitless effort so far. I look for transportation that will give me plenty of room for my family, comfort, decent mileage and of course a royal blue would make my wife very happy. Oh, I also want at least a couple of years left on the manufacturer’s warranty. Not too much to ask for in my mind, I know what I need/want in terms of reliability and travel requirements. As I find a car that seems to match my needs I use the dealership’s financing calculator to see that I am probably not going to be able to afford that vehicle. I think if that little chat box with a picture of a representative could see what I was doing rather than asking if it could help me, it would laugh and tell me to keep dreaming. So, I enter my information in their calculator and find that not only is the vehicle not going to pay for itself it would cost a LOT more than I can afford. Too bad those payment calculators aren’t like the Loss Prevention ROI Calculator.
Most of you are thinking I’ve lost my mind. How could I ever expect a vehicle to pay for itself over time that is a ludicrous idea? I would agree and I recognize that a car loses value over time and with use. What you would be surprised to learn as a retail manager or store owner is that a loss prevention security system from Sensormatic CAN pay for itself over time. It is an investment that will reduce your losses incurred from shoplifting and internal employee theft. Loss Prevention Systems, Inc. (LPSI) founder Bill Bregar has been a crusader against retail theft since he started his company in 1983. Relying on his military, educational and Loss Prevention experiences (he just happened to hold the Director of Loss Prevention position for several national retailers) he began helping retailers reduce shortage and improve profits. One indispensable tool in the Loss Prevention toolbox is an anti-theft system. Unfortunately many business owners hold the misconception that their store is too small to be able to install a system or it is beyond their budget. Bill wanted to be able to demonstrate that a system is within reach and created the Free Loss Prevention Calculator. With a quick visit to the LPSI website and a click of the “ROI Calc.” tab a store owner is taken to the calculator. No registering, no signing in simply enter the estimated annual sales of your store and how much you would want to invest in a Sensormatic system and the Loss Prevention ROI calculator figures your stores estimated shrink losses in dollars based on an average of 1.2%. It estimates the reduction in shortage from 1.2% to .65% a conservative estimate as some owners will see even better results. The monthly cost of the electronic article surveillance system is displayed but so is the best part, the estimated number of months it will take for the system to pay for itself!
You read that correctly, The Free Loss Prevention Calculator shows you how long it will take for a Sensormatic system to pay for itself in reduced shortage. After that it becomes profit! I don’t have that luxury with a car financing calculator. Nothing about that deal says I am going to start profiting from my investment. All I get is that I am going to pay out the ear for 5 or 6 years on something that is going to devalue over that span. Maybe these car dealers need to sell me an ice cream truck then they could use their own version of the Loss Prevention ROI Calculator and tell me how long before my truck profits me.
In conclusion I want to let store owners and managers know that while a Loss Prevention System is an important part of theft prevention it should be part of a more comprehensive theft prevention program. LPSI would be happy to take a look at your business and help assess risks and develop a strategy that will ensure you have an edge over your competition. Can Loss Prevention be free? You bet it can be and LPSI can show you how.
Get more information on the Free Loss Prevention Calculator, contact us or call 1.770.426.0547 today.
Is there a vehicle calculator comparable to the Free Loss Prevention Calculator? Unfortunately the answer seems to be a resounding no. I have been experiencing a number of car breakdowns recently so I started browsing car dealerships on the internet. I have been looking for a vehicle I can afford but it has been a fruitless effort so far. I look for transportation that will give me plenty of room for my family, comfort, decent mileage and of course a royal blue would make my wife very happy. Oh, I also want at least a couple of years left on the manufacturer’s warranty. Not too much to ask for in my mind, I know what I need/want in terms of reliability and travel requirements. As I find a car that seems to match my needs I use the dealership’s financing calculator to see that I am probably not going to be able to afford that vehicle. I think if that little chat box with a picture of a representative could see what I was doing rather than asking if it could help me, it would laugh and tell me to keep dreaming. So, I enter my information in their calculator and find that not only is the vehicle not going to pay for itself it would cost a LOT more than I can afford. Too bad those payment calculators aren’t like the Loss Prevention ROI Calculator.
Most of you are thinking I’ve lost my mind. How could I ever expect a vehicle to pay for itself over time that is a ludicrous idea? I would agree and I recognize that a car loses value over time and with use. What you would be surprised to learn as a retail manager or store owner is that a loss prevention security system from Sensormatic CAN pay for itself over time. It is an investment that will reduce your losses incurred from shoplifting and internal employee theft. Loss Prevention Systems, Inc. (LPSI) founder Bill Bregar has been a crusader against retail theft since he started his company in 1983. Relying on his military, educational and Loss Prevention experiences (he just happened to hold the Director of Loss Prevention position for several national retailers) he began helping retailers reduce shortage and improve profits. One indispensable tool in the Loss Prevention toolbox is an anti-theft system. Unfortunately many business owners hold the misconception that their store is too small to be able to install a system or it is beyond their budget. Bill wanted to be able to demonstrate that a system is within reach and created the Free Loss Prevention Calculator. With a quick visit to the LPSI website and a click of the “ROI Calc.” tab a store owner is taken to the calculator. No registering, no signing in simply enter the estimated annual sales of your store and how much you would want to invest in a Sensormatic system and the Loss Prevention ROI calculator figures your stores estimated shrink losses in dollars based on an average of 1.2%. It estimates the reduction in shortage from 1.2% to .65% a conservative estimate as some owners will see even better results. The monthly cost of the electronic article surveillance system is displayed but so is the best part, the estimated number of months it will take for the system to pay for itself!
You read that correctly, The Free Loss Prevention Calculator shows you how long it will take for a Sensormatic system to pay for itself in reduced shortage. After that it becomes profit! I don’t have that luxury with a car financing calculator. Nothing about that deal says I am going to start profiting from my investment. All I get is that I am going to pay out the ear for 5 or 6 years on something that is going to devalue over that span. Maybe these car dealers need to sell me an ice cream truck then they could use their own version of the Loss Prevention ROI Calculator and tell me how long before my truck profits me.
In conclusion I want to let store owners and managers know that while a Loss Prevention System is an important part of theft prevention it should be part of a more comprehensive theft prevention program. LPSI would be happy to take a look at your business and help assess risks and develop a strategy that will ensure you have an edge over your competition. Can Loss Prevention be free? You bet it can be and LPSI can show you how.
Get more information on the Free Loss Prevention Calculator, contact us or call 1.770.426.0547 today.
RECOGNIZING EMPLOYEE THEFT – PART 2
I started writing some helpful hints on putting together your Employee Theft Reduction Training and when I was finished, I realized that there were just so many more indicators of possible Employee Theft. As a business owner, you have a responsibility to your managers to provide the best training that you can. Not only do they need to help you hit your sales goals, they need to learn how to spot dishonest employees. While not all of these behaviors will indicate theft every time, I can assure you that in every theft you encounter, one of these behaviors will be observed.
Cash Shortages
While these seems obvious, I’m not talking about $200. Cashiers that are always $5 or less short should be a cause for concern. Perhaps they are stealing a few bucks a day for a hamburger, or it could be even more nefarious. Those small shortages are very commonly seen in cases of refund fraud. When a cashier conducts a refund for a customer that doesn’t exist, my experience tells me that they only steal the cash, and leave the change, making their tills short by a few dollars each night.
Employees not in Their Assigned Areas
While you want and need employees to be cross trained to better assist your customers in all areas of the store, employees that are often found “wandering” without customers can be an indicator of Employee Theft. If there is not a reasonable explanation for an employee to be a certain area of the store, chances are they are doing something they shouldn’t be.
Backpacks, Lunch Boxes and Large Purses
Part of your Employee Theft Reduction Training should also include polices designed to make it hard for employees to steal from you. This includes prohibitions on storing personal effects on your sales floor. Bags of any kind can be a perfect way to quickly and discreetly hide merchandise.
The Vanishing Employee
Honestly, some employees are just plain lazy and will often disappear to do lazy things, like sleep. However, this could also be a tell-tale sign of Employee Theft. Employees who simply vanish for blocks of time could be using this opportunity to steal merchandise from you, in addition to stealing payroll. Constant circulation by your managers and a good task load can and will prevent the David Copperfield’ in your store.
Snacking
If you sell impulse snacks and drinks (and if you don’t you should!), be mindful of employees that always seem to have a drink. Are you certain that it was paid for? Part of your Employee Theft Reduction Training should include guidance and policy that states consumable items should have the sales receipt taped/stapled to the product at all times. While a $.99 bottle water may not sound like a lot, if every employee took a bottle a day for an entire year, assuming you have 10 employees, that’s a loss of over $3,600.
Need information on employee theft reduction training? Give us a call at 1.770.426.0547 now.
I started writing some helpful hints on putting together your Employee Theft Reduction Training and when I was finished, I realized that there were just so many more indicators of possible Employee Theft. As a business owner, you have a responsibility to your managers to provide the best training that you can. Not only do they need to help you hit your sales goals, they need to learn how to spot dishonest employees. While not all of these behaviors will indicate theft every time, I can assure you that in every theft you encounter, one of these behaviors will be observed.
Cash Shortages
While these seems obvious, I’m not talking about $200. Cashiers that are always $5 or less short should be a cause for concern. Perhaps they are stealing a few bucks a day for a hamburger, or it could be even more nefarious. Those small shortages are very commonly seen in cases of refund fraud. When a cashier conducts a refund for a customer that doesn’t exist, my experience tells me that they only steal the cash, and leave the change, making their tills short by a few dollars each night.
Employees not in Their Assigned Areas
While you want and need employees to be cross trained to better assist your customers in all areas of the store, employees that are often found “wandering” without customers can be an indicator of Employee Theft. If there is not a reasonable explanation for an employee to be a certain area of the store, chances are they are doing something they shouldn’t be.
Backpacks, Lunch Boxes and Large Purses
Part of your Employee Theft Reduction Training should also include polices designed to make it hard for employees to steal from you. This includes prohibitions on storing personal effects on your sales floor. Bags of any kind can be a perfect way to quickly and discreetly hide merchandise.
The Vanishing Employee
Honestly, some employees are just plain lazy and will often disappear to do lazy things, like sleep. However, this could also be a tell-tale sign of Employee Theft. Employees who simply vanish for blocks of time could be using this opportunity to steal merchandise from you, in addition to stealing payroll. Constant circulation by your managers and a good task load can and will prevent the David Copperfield’ in your store.
Snacking
If you sell impulse snacks and drinks (and if you don’t you should!), be mindful of employees that always seem to have a drink. Are you certain that it was paid for? Part of your Employee Theft Reduction Training should include guidance and policy that states consumable items should have the sales receipt taped/stapled to the product at all times. While a $.99 bottle water may not sound like a lot, if every employee took a bottle a day for an entire year, assuming you have 10 employees, that’s a loss of over $3,600.
Need information on employee theft reduction training? Give us a call at 1.770.426.0547 now.
