By Moe Lastfogel
Director of Sales and Marketing for The Retail Observer
As I was going through some of the back issues of The Retail Observer, I found an article written by Lee Boucher that touched on employee theft and the subject Lee brought up in the following excerpt of his article still amazes me:
“This is not a pleasant subject, but customer and employee stealing is rampant throughout big and little retail stores in the U.S. ‘But, ’you say, ‘We treat our employees just like family.’ That may be true, but families steal from each other too.
Theft costs the retail industry tens of billions of dollars each year. Maritz Research, one of the world’s largest research firms, recently surveyed retail employees and discovered that:
As I look back over the years and the many companies I worked for, theft was never talked about. In our industry how often do appliances just walk out the door? Well, they do, and it’s unfortunate. The bottom line is protect yourself and your profit margins, get protocols in place and constantly review them to help detour this hit to your bottom line.
Until next time,