Internal theft is the politically correct term for employee theft and costs American Businesses Billions of dollars annually. I say politically correct because many companies don't like to talk about it or acknowledge it, chalking up losses to shoplifters or poor inventory control. While both of those are factors that affect a companies profits, employee theft is by and large the largest piece of the pie. In some studies, up to 70% of retail shrinkage is caused by employee theft.
There a few simple signs to see if you're a victim of a dishonest worker.
1. Unexplained inventory shortages of items that show as in stock and are mysteriously gone.
2. Opened packaging in employee break rooms or locker rooms.
3. Cash register shortages.
4. Declining profits.
5. Multiple visits to the dumpster - thieves will often hide merchandise in the trash for later pickup.
6. Frequent visits from friends at a particular register. Employees with dishonest character don't see anything wrong with "discounts" to friends and family.
7. Increased refunds on high ticket items - employees who steal will many times have an associate refund the merchandise to get the cash.
8. Unexplained voids at their register.
9. Multiple No Sale transactions at the register.
10. Frequent need to go to the car or unexplained absence during their shift for short periods. Thieves often want to get the ill-gotten gains gone from the hiding spots they create.
So how do you catch a thief? There are a number of ways that technology can improve your odds of keeping your merchandise and products in the hands of paying customers. In this video, Ted Moss of Investigations America discusses the use of covert cameras to detect employee theft.