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Lost Opportunities - Firms Without Loss Prevention Programs Could See Business Shrink

Jacksonville Business Journal - by Eric Cravey

In general, employees help a company increase profits. But sometimes they cause a company to lose money. Not only because of sloppy work or bad decisions, but also because they're stealing from the till.

In general, customers are good for business. But sometimes they, too, take from the bottom line rather than add to it.

Employee theft and shoplifting are major sources of inventory "shrinkage" for businesses.

Almost 43 percent of inventory shrinkage losses come from employee theft, according to a survey of loss-prevention executives by the University of Florida in the 1998 National Retail Security Survey. Those executives blamed about 34 percent of the shrinkage on shoplifting.

However, companies being robbed by employers, or customers, don't have to throw up their hands. They can take definite steps to reduce those losses.

View the entire article at the below link to Jacksonville Business Journal

http://jacksonville.bizjournals.com/jacksonville/stories/1999/12/27/smallb1.html

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