The Retail Risk London, and the UK Retail Fraud Survey 2016, states that ’employee theft is considered to be the single biggest cause if crime; 68 per cent of retailers cite it as their top area of loss ‘.
For any small business owner, the value of staff honesty cannot be underestimated. And this attribute is even more important in the retail and hospitality environments with workers operating tills and handling cash.
No one wants to believe that their workers are behaving dishonestly, but let’s face it there is always an underlying concern. every owner/manager needs to remain confident that their business is being looked after as well as possible, and that all the takings stay firmly put.
Our technology has the ability to arm hospitality providers and retailers with information they may not have otherwise had. For example, they are able to track staff, and to check how many times and when a cash drawer was opened by a particular employee. From there, they can see patterns emerging. It was this particular piece of technology which enabled a new client to pick up fraud that was happening in their business; they were able to identify two members of staff conducting pretend sales through the till and pocketing money. They cross referred till openings with CCTV as the final piece in the puzzle. Their investment in technology has helped them to not only eradicate fraud, but will prevent it from ever happening again.
End of day declarations let you know what is in the drawer. If the report is regularly spot on to the penny, then that should ring alarm bells – you would always expect, in a busy trading environment, for it to be out by a few pence. Equally, if there is a much higher sum in the till then again that should arouse suspicion.
No one wants to act like Big Brother, but – at the end of the day – any owner/manager needs to have complete transparency when it comes to how their business is being looked after by others. It’s their prerogative, and will help them to stay one step ahead.