Employee Theft Jeff Cady Tim Allen Sam Maurmann

Where Inventory Shrinkage Happens Employee theft (44.5%) Employee theft (44.5%) Shoplifting (32.7%) Shoplifting (32.7%) Administrative error (17.5%) Administrative error (17.5%) Vendor fraud (5.1%) Vendor fraud (5.1%)

Employee Theft University of Florida study University of Florida study Up 2% from the previous year Up 2% from the previous year Accounts for more than 44% of all retail losses in the US Accounts for more than 44% of all retail losses in the US Shortage of employees leads to dishonest employees Shortage of employees leads to dishonest employees

Employee Theft Continued Average annual loss per dishonest employee= $1,023 Average annual loss per dishonest employee= $1,023 Dishonest employees work for the employer on an average of nine months Dishonest employees work for the employer on an average of nine months Average value of stolen merchandise= $128 Average value of stolen merchandise= $128

Identifying Dishonest Employees Nervous employee Nervous employee Employee purchases Employee purchases Merchandise around register Merchandise around register Shoplifter catches Shoplifter catches Emptying of trash Emptying of trash Auto trips Lottery Lay-a-ways Catalog stores Angry employee

Preventing Theft Background checks Background checks New-hires New-hires Temporary workers Temporary workers Thieves know who thieves are Thieves know who thieves are Cash incentives for reporting internal theft Cash incentives for reporting internal theft Employee shopping Employee shopping Receipt checkers Receipt checkers Merchandise around register Employee exits Employee bags Employee lockers Pawn shops, yard sales, flea market, newspaper classified ads

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