Dealing With Theft As A Business Owner

No one in the world enjoys having their hard-earned money and belongings stolen. Business owners face not only the responsibility of protecting their own homes, but their places of business as well. The thing is that securing a business location is different than securing a home, and the natures of theft in a home versus theft at a place of business are different as well. As such, there are a few things you can do as a business owner to improve security and catch criminals.

First, let’s split your business’s security concerns into two areas: internal and external. External theft is an act of theft committed by anyone from outside your business. External theft can be avoided through better customer service. If your staff is highly attentive and helpful to your customers, the chance a shoplifter has of leaving with stolen products goes down. Likewise, your business’s layout has the effect of inviting or deterring thieves. Avoid having significant parts of your business unseen by yourself or your staff, and use surveillance where necessary. Do whatever you can to ensure you and your staff have the highest level of visibility possible. Keep track of your inventory, and if anything doesn’t add up, be sure to investigate. Lastly, a good alarm system will cost you, but will also provide an unparalleled level of security.

Next, there is internal theft. An internal theft is an act of theft committed by someone from inside your business. The most common forms of internal theft are embezzlement, employee shoplifting, and fraud. To avoid internal theft, try establishing employee procedures that minimize opportunities for them to steal. Make each employee responsible for their own cash register, and that register ALONE. That way it is easy to hold someone responsible for financial discrepancies. Also make sure to perform background checks on prospective employees. Lastly, deal with any instances of theft or “borrowing” without permission quickly and fairly to avoid repeat instances. If your employees don’t respect you, they are more likely to steal from you, either slowly or in one foul swoop.

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4 months ago
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