Various causes attribute to company financial loss. Common sources include customer returns, shoplifting and inventory damage. However, there are additional causes that security personnel may be able to prevent and save your company thousands of dollars.
1. Employee Theft
According to one study, 75% of employees admitted having stolen from their company at least once. It’s a sad affair to think that a huge source of financial loss stems from the very people you hire. Just as security staff can monitor customers, they can also monitor employees. They can keep an eye on employees as they ring themselves up, process return inventory, etc.
2. Vendor Fraud
Financial loss can also come from unscrupulous third-party vendors who supply your inventory. Vendors may deliver less products than ordered, submit the same invoice more than once, or even convince an employee to cover for any discrepancies. A commercial security guard can keep a watchful eye on vendors as they’re stocking the shelves or sending a batch of supplies to your warehouse.
3. Damaged Products
A damaged product may have to be marked down in price or be marked as unsellable. Products become damaged due to improper handling by a customer or employee. In warehouses, factors like a cramped storage shelf or hasty transportation can lead to increased damage and defective products. Keep a security member in aisles where products are considered at high-risk of damage. A security team can also report behaviors that put products at risk, such as storing items beyond the edge of the shelf.
We Minimize Company Financial Loss for Vista Businesses
Company financial loss is in large part due to negligent or nefarious employee behavior. Contact Squadron Protective Services for on-site security. We routinely provide on-premise monitoring for retail establishments and warehouses. Preventing company financial loss is what we do best.
On-Site Security for Protection Against Company Financial Loss in Vista
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