Preventative Measures: How Security Cameras Can Mitigate Employee Theft
As unfortunate as it may be, commercial security systems aren’t only there to deter and detect outside thieves. While it’s true that shrink forces North American retailers to lose up to $45 billion worth of inventory every year, a good chunk of that number comes from within the business itself. Approximately 75% of employees have admitted to stealing from their employers at least once, and — with no verified security systems or surveillance cameras in place — many have been able to get away with it. Let’s take a look at three ways installing business security systems can prevent and stop employee theft.
- A Simple Act: In many cases, it doesn’t take much to school errant or crooked employees into either obeying the rules or quitting. The very act of installing surveillance cameras will be enough to remind them that you can see their every move, and may make them think twice before making a decision to act dishonestly. In the same way security cameras deter criminal activity with the threat of being caught, they force employees to consider the consequences of their actions.
- Liability Claims: When you have video of an incident, it is much easier to eliminate false claims. Whether employees are faking accidents or a customer is trying to swindle the business, the cold, hard proof of video evidence can make them go away. As an example, Chuck E. Cheese has managed to reduce claims costs by $600,000 by installing security cameras in their stores.
- Prevent Payroll Fraud: According to Forbes, an estimated 27% of all business experience payroll fraud. When you’ve got a surveillance camera situated above where employees clock in and out, however, you’re able to ensure they’re being honest on their time sheets. If you get suspicious, all you have to do is go back and check the video.
If you work in retail, investing in a verified security system is a must. Not only could you face the loss of thousands of dollars (or more) worth of inventory, but you may know the person committing the crime and are paying them to access the product. Don’t take the risk; ensure your store or company is protected with a quality security surveillance system.