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Keys To Low Shrink
Series of articles outlining the keys to reducing losses and maintaining low shrink levels.
Study Finds That Workplace Theft Is Increasing In Down Economy
A study released in December, 2008 shows that many companies are seeing an increase in workplace crime, and specifically, theft related crime. Of course, this just serves to further support what we have already been saying all along. Those of us working in the field don’t really need studies to tell us that there... »
Employee Theft Increasing By 15%
According to the most recent NRF Loss Prevention Survey, businesses lost $41.6 billion in 2006 to theft and fraud. That’s about 1.61% of sales lost to theft-related shrink. Many experts are reporting that employee theft is increasing by 15% per year on average. The NRF survey also found that $19.5 billion, or 47% of... »
Keys To Consistent Low Shrink – Part 7 – Set A Goal, Then Stick To It
Every successful business sets goals. In fact, most businesses have many goals, both short term and long term. Sometimes, though, small and medium sized businesses may overlook one very important goal: The shrink goal. To reduce shrink, you need to know your current shrink level, have a plan to reduce it, and have something... »
Keys To Consistent Low Shrink – Part 6 – Inspect What You Expect
Simply put, if you have certain expectations of security within your organization, from a cash handling program to merchandise protection standards, you must audit these procedures regularly, or they will lose much of their effectiveness. Why? Because your employees will perceive them only as important as you do. If you place high importance on a... »
Keys To Consistent Low Shrink – Part 5 – Control Your Entrances / Exits
The front door to your business is the most important door. It’s where your customers enter and exit. It is also where the thieves will enter, and at least most of the time, exit. Most businesses do a fairly good job of locking their back doors. But we can’t lock the front door, or... »
