As a retail owner, the security of your stock is one thing that you cannot compromise on. In most cases, you are concerned about external parties coming into the store. You set up systems and obstacles to prevent burglars from entering and to spot shoplifters. However, there is another party that is always underestimated by employers. Cunningly, employees can lead to massive losses to your store because of the trust that you have put in them. But have you ever thought about using a cash counter machine or something like that?
If you are starting a new store or you suspect your employees of stealing from you, this is the right place for you. Let’s breakdown all the possible ways to prevent your subordinates from running your store dry.
Ways to prevent employee theft at the store
Use of a cash counting machine
Cash counting machines are best for your store if you are dealing with large amounts of money. It allows you to sort out your money quickly and accurately. While humans are bound to error, that is not the case with these machines. The machines can keep a record of the money counted daily. This can be compared against the money returned by your employee, keeping them on the straight and narrow path.
With the advancement of technology, there are many options available for you here. Security cameras are very sophisticated today. They come in very small options and can be hidden virtually anywhere. We recommend that you install your security cameras near the register. With a strong and stable internet connection, you can watch the goings-on of your store from virtually anywhere.
Besides, you can save the daily recordings physically or in the cloud for later reference, if in doubt. This can serve as evidence in the case of any theft.
A store might have multiple employees working the cash registers or Point of Sale (POS) terminals. To reduce the possibility of cash theft, we recommend you add in some identification protocols. This can be in the form of biometric scanners (facial recognition/fingerprint scanner) or the use of the company card. Once the employee has signed in, suspicious trends at a particular terminal can be identified easily and the person responsible considered.
Daily cash counts
Skimming is a common action by employees where they steal small amounts from the cash drawer regularly. Though it might be hectic, doing daily cash counts might be quite beneficial to you. This is recommended for companies or stores that cannot afford to purchase a cash counting machine.
Use an inventory management system
Employees can also steal inventory from you; not only cash. The best way to protect yourself from this is by developing and installing an inventory management system. Working in tandem with the POS, you can track items moving in and out on a real-time basis.