Loss prevention tips for businesses include installing surveillance cameras, hiring security officers, and strategically placing merchandise. Electronic tagging of items and drug testing for potential employees can also help prevent theft. Panic buttons and closed cashier areas can make a business less of a target for robberies.
Theft is one of the many ways a company’s profit margin can be negatively impacted. While it’s not always preventable, there are some specific steps business owners can take to minimize the risk. The best loss prevention tips include installing surveillance cameras and hiring uniformed security officers to monitor suspicious activity. Entrepreneurs should also be cautious when hiring new employees. Checking references, running background checks, or using other screening methods are important loss prevention tips to limit insider theft.
Some retail stores benefit from electronic tagging of merchandise. The sensors can be affixed to various items, such as clothing, books, jewelry or other valuables. When customers want to purchase an item, they take it to the cash register and the sensor is deactivated when it is scanned at the point of sale. If the sensor is not removed or deactivated, it triggers an audible alarm when it approaches the front door. Security and store personnel are immediately aware that a shoplifting attempt may occur.
Even with surveillance cameras, security personnel, and electronic tags in place, it can be difficult to prevent shoplifting. Some thieves are naturally skilled at stealing. To minimize risk, loss prevention tips in a retail store include strategically placing cash registers and merchandise so that criminals have a harder time removing items from the store inconspicuously. Small, light items or expensive merchandise should generally not be kept near exit doors.
To make a business less of a target for robberies, closed cashier areas are better than those that are easily accessible to criminals. It’s also a good idea to install panic buttons near registers and other locations in the shop. In the event of an attempted robbery, a store employee can press the button, which triggers a silent alarm, alerting the authorities of a crime in progress.
In addition to preventing random shoplifting efforts, loss prevention tips are important to consider when deciding which potential employees to hire. Reference checks can give business owners insight into a person’s previous experience and work ethic, but some companies go a step further and require applicants to pass a drug test before offering employment. This condition of employment serves a number of purposes for a business.
Some employers believe that people who engage in illegal drug use are more likely to steal money or goods. For this reason, administering drug tests to applicants is one of the loss prevention tips that can prevent business owners from hiring people who might steal from them. In addition, companies that drug test their employees often benefit from reduced insurance premiums.
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