6 Tips to Prevent Retail Employee Theft

A recent report commissioned by Retail Knowledge reveals that employee theft accounted for the largest area of retail loss, with theft of inventory at 37 percent and theft of cash at 20 percent.

Retailers must avoid the misconception that employee theft can't happen to them. Unfortunately, internal theft can have a detrimental domino effect that ultimately impacts profit margins, team morale and client trust. With a number of factors affecting the retail landscape, including increased competition, changing consumer behavior, growing online sales and the high cost of storefront rent, companies need to look within and find more efficient ways to protect their assets or risk going out of business.