Minimising Loss And Theft In Your Business

Loss and theft are realities for every business – but what can you do about it?

Employers face the threat of theft and loss from people within their company as well as outsiders which makes the problem complex and wide-ranging. Putting effective prevention and protection measures in place should be a priority for all businesses – so have a look at some important steps you can take to minimise the risk of loss and theft:

Identify where the losses are coming from

Who͛s doing the stealing – or who is more likely to do the stealing? Is your business at risk from staff, customers or criminals?

It͛s a bitter pill to swallow, but the truth is that employees are responsible for a large percentage of thefts and shrinkage. Whether it͛s stationery or other consumables, computers, merchandise or stock, data theft or financial fraud, workplace theft is a reality and businesses need systems which help them to identify the source of the losses.

Employee screening

A trustworthy workforce is your biggest asset, so defend yourself against employee crime and make sure your background checks and screening procedures are watertight.

Policies and procedures

Every business should have policies on workplace theft which are clearly communicated to all employees and reinforced regularly.

Regular audits and inventory checks can also pick up theft and fraud early on.

Cultivating loyalty and creating awareness

Employees steal for a number of reasons including personal financial hardship, opportunity, incentive from friends, kickbacks and dissatisfaction with the workplace and the best defence against this is for management to invest time and effort in creating a loyal, motivated, respectful workforce who understand the consequences of any transgression.

Your workforce can also be an extra set of eyes and ears on the ground and should be encouraged to look out for suspicious activity, changes in behaviour patterns by their colleagues as well as look out for external security breaches.

Businesses should also offer a convenient and anonymous means of reporting suspicions so that whistleblowers don͛t feel threatened.

Video surveillance equipment

CCTV cameras are an effective deterrent against workplace loss and theft and when employees and criminals know they’re being watched, the likelihood of criminal activity is reduced. CCTV also provides crucial evidence in the event of an incident.

But video surveillance now extends beyond stored footage or even monitored screens.

Technological advancements like video analytics software digitally monitors customers and employees in real-time, picking up suspicious activity and alerting authorities when anything untoward is detected. Obviously, businesses need to ensure that employee and customer rights are protected and balanced with their right to protect themselves.

Access control

A commercial access control system is a key defence mechanism against business loss and theft. Not only does it prevent unauthorised personnel from entering the premises, it can also restrict access to designated areas within the building.

Our access control systems range from simple, single doors and commercial gates that can use pin pad security or proximity card readers to large enterprise systems which encompass multiple sites and thousands of staff situated across the country.

Safeguarding your business from unauthorised entry is obviously the primary objective of an access control system, but it can also play a valuable role in tracking the movements of individuals, providing crucial data in the event of a security breach and removing the opportunity for crime.

Many workplace losses and thefts are opportunistic, so any strategy that deters would-be perpetrators and restricts their opportunities to steal is a good one.

While prudent and proactive precautions go a long way in minimising losses and theft from your business – every business is different and has unique needs. There͛s no one-size-fits-all solution so come and see us about a system that is customised to meet your own requirements and that is cost-effective, easy to install, simple to manage and which will deliver the results you are after.

Call us on 08 9468 6658 for an obligation-free quote