No one wants to believe that their staff would be dishonest, but employee theft is a common business risk. If you aren’t sure how to develop an internal security program for your business, start with these seven tips:
- Conduct background checks.
While you should always review your hiring and firing criteria with legal counsel, performing background checks and checking references on new employees can limit your exposure to potential theft and damages.
- Implement and strictly enforce security policies.
By developing strict protocols for cash handling and security policies — and sticking to them — you can better protect your business from theft. Hold your staff accountable and take swift action against employees who participate in criminal activity.
- Standardize reporting procedures.
All employees — including managers — must understand the consequences of stealing business property, as well as have a clear understanding of how to report any crimes or questionable instances.
- Limit availability and access to cash and financial records.
Only management should handle large bills and transfers. By performing regular audits of money from the register, programming cash limits to manage accounts, keeping the register locked, and recording receipts daily, you can limit the opportunity for theft. If your company brings in large cash volumes, you may consider using security personnel for transport.
- Install and monitor security cameras.
The mere presence of cameras can deter employees from committing acts that could get them fired. That said, your security cameras should still be frequently reviewed to check safety and security procedures.
- Train employees on security and safety procedures.
Make sure training addresses incidents like robbery, loitering, employee theft, and opening and closing procedures—as well as the various procedures for handling difficult situations.
- Reevaluate your program often.
While you don’t need to review your security program as often as you might change your menu or restock your merchandise, it should be periodically reevaluated throughout the year to add any lessons-learned and help reduce your exposure to risks.
Any business that employs workers also opens itself up to internal security risks, but these risks can be mitigated—along with many others. To learn more ways to protect your retail business, check out our article, Income, Inventory, and More: Mitigating Risks in Your Retail Store.
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