Employee theft is not uncommon in today’s homes and businesses. The internet is bursting with stories of shop assistants who have stolen huge sums of money and goods from shop owners, various forms of domestic staff thefts; including drivers who disappear with their employers’ cars. Find some stunning stories here.

The focus of this article is on business owners can prevent losses that are attributable to retail theft from shop assistants. Our research shows that finding and retaining trustworthy shop assistants are one of the biggest problems facing business retailers today. It goes without saying that business will not be the same as usual when an employer suffers a huge loss from employee theft; especially when some loans have been incurred to finance the business.

Here are some safety tips that will help in eliminating employee theft in your business:

Safety tip 1: Put your potential hires through pre-screening background checks

Ensure that you are not hiring those with criminal pasts. It is very important that business owners become aware of how severe the consequences of hiring untrustworthy employees can be. Get to know your employees’ background before you entrust your business to their hands. Going the extra mile to profile those you hire will significantly lessen chances of theft or being taken advantage of, allowing you gain an understanding of the person’s tendencies and personality style. Click here to hear from the CEO of the company that pioneered background check services in Nigeria.

Verify all information they provide;

  • Past job records; last place of employment and reason for leaving.
  • Name and address of referee(s) provided must be verified.
  • Permanent home address, phone number and valid ID must also be verified.

Safety tip 2: Enlist every staff in your employment for a biometric registration: Studies show that the more employees believe they will be caught, the less likely they are to steal. Enlist every staff in your employment for a biometric registration. Taking them through an image and finger print capture will give them a good reason to have a re-think when the temptation to run off with your goods or money enters their mind. They know that you have their biometric details and picture (which they know you will display across newspapers/blogs).

Safety tip 3: Inventory management:

If you don’t have an inventory management system in place, it’s nearly impossible to know what is being stolen, how much is being stolen, or how significantly retail theft is affecting your bottom line.

Considering this, a smart step towards retail theft prevention must include inventory management and sales tracking. While many businesses procrastinate on this, ensure that you do this periodically, depending on how often you re-stock goods and the volume of sales your business controls per day. Doing inventory correctly requires you to do physical inventory counts and reconcile those with your previous inventory counts and sales records. Ensure that there is efficient supervision of the flow of goods from warehouses (or point of purchase) to your store (point of sale).

Safety tip 4: Be alert to disgruntled or stressed employees

Be alert to employees who have indicated that they are having financial difficulties.  A positive work environment has been shown to deter employee fraud and theft. Open lines of communication, positive employee recognition, and fair employment practices will assist in the reduction of employee theft.

The KYS (Know Your Staff) App

However, a new option is now available. Business owners now use the KYS (Know Your Staff) app to book biometric registration and background checks for their shop assistants. Biometric registration costs N 4,950. Background checks can range from as little as N 12,500 to N 22,500 per person, depending on what category an employer chooses to go for. Click here to hear from the team that developed KYS App.

Here are list of services that can be booked conveniently on KYS App:

Biometric and Image Capture

Employers can now use the KYS (Know Your Staff) app to book biometric registration and Image capture for their low cadre staff at the introductory price of N4, 950.

Book a Range of Background Checks Services  

Basic:

Package Content(s) include: Guarantor’s check (1), Family Background Check, Previous Employment Check (Last) Price N 12, 500

Standard:

Package Content(s) include:, Guarantor’s check (2), Reference checks (2), Family Background Check, Previous Employment Check (Last), Neighborhood check (Last Address) Price N 17,500

Enhanced:

Package Content(s) include:, Guarantor’s check (2) , Reference checks (2), Neighborhood check , Criminal Record Check , Family Background Check, Previous Employment Check (All) . Price N22, 500

Recommended Medical Diagnostic Screening

TB Screening (chest & x-ray) N2, 200

Hepatitis B N4, 900

Typhoid Screening N2, 200

HIV 1 & 2 N750

Physical Examination (BP, Pulse, BMI, etc.) N 750

Diabetic screening N700

Businesses cannot afford the cost of theft and lost productivity. The small price up front is well worth it in the end.

The larger the pool of people cooperating, the safer we will all be. Please Share this information with all your contacts!

For more information please contact us on:  Email: info@kys.com.ng

Tel: +234 81 87402234

Do you have some more ideas on how to curb employee theft? Kindly share them in the comment box below.


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