A security camera installed in a retail store

5 Ways To Prevent Employee Theft In Your Daytona Beach Store

When we’re running a business, we’re naturally more wary of outsiders than we are of our own team when it comes to security. However, you can’t ignore the fact that about 95% of all businesses do experience employee theft at some point.

It’s also no surprise that one of the most common types of employee theft is money theft which is something most retail store owners may experience.

As Daytona Beach’s top security system suppliers, we have a few tips that may help you prevent employee theft at your store.

Do Background Checks Before Hiring

This pretty much goes without saying, but any new employees you’re hiring need to go through rigorous background checks. This means asking for and cross-checking their references, taking drug tests, and running a quick search online in available public records.

And of course, if you come across any red flags at all, especially ones that put their professionalism and ethics in question, do not hire them.

Take Time to Get To Know Your Employees

Once you hire an employee with a squeaky-clean record, your job is done, right? Wrong. Your investigation and background check could have loopholes, and people and their circumstances can change at any time, so you need to really know your employees to notice these subtle changes.

Always, look out for these behavior changes that point toward potential theft:

  • Sudden interest in working late
  • A sudden lifestyle upgrade (where their paycheck doesn’t explain it)
  • Drinking habits and drug use
  • Persisting borrowing
  • Strong objections to stricter policies

If you notice any such signs, try and keep a closer check on such employees, at least for a while.

Stick to Good Bookkeeping Habits

Retail stores have a great deal of bookkeeping to take care of, but you can’t be careless with it. Proper bookkeeping will ensure there is no loophole to enable employee theft.

So, for instance, you should ensure no single employee is handling all or too many parts of a transaction. Also, any purchases, reimbursements, payrolls, and other financial proceeds should go through a senior employee or manager. Also, consider hiring a professional bookkeeper to review everything once a month to ensure everything is in order.

Do Random Checks

A person hiding a product inside a bag in a store

If you’re closely involved in your store’s tasks, you’re likely to notice any discrepancies. However, many store owners make the mistake of having a set schedule of checking the books, cash registers, supplies, inventory, and other financial aspects.

If someone is stealing from you, they can easily hide evidence in time before your checks. A better approach is to make a habit of doing random checks. This will deter all potential in-house thieves.

Consider the Best Surveillance Options

One of the most basic ways to prevent employee theft is to install high-tech security gear in your store. However, make sure to not DIY the security camera installation, but get a professional security team on board. Not only will they help you with the right camera choices, but they will also help you figure out the perfect placement and installation.

Not sure where to find the perfect business security systems? Let us help!

At Max Video & Security, we offer some of the best security and surveillance solutions for commercial and residential properties in Daytona Beach.

Get in touch with us for more information.