The Retail sector in the UK is spending millions of pounds on loss prevention as crime escalates. We submit that money could be saved with a robust pre-employment screening process.
There’s no doubt that the Retail Sector has taken a hit from online shopping. But a far worse crisis is having a negative effect. Shoplifting, theft by staff and violence in store toward employees is costing a fortune.
Research conducted among Britain’s largest retailers by the BRC (British Retail Consortium) has revealed some devastating data. Despite huge investment in loss prevention measures retail crime has risen by alarming levels. BRC members reported that they invested an average of £29 million in crime prevention between 2016 and 2017 on loss prevention.
Overall retailers are losing £700 million according to data compiled in the BRC’s Retail Crime Survey which is carried out every year. This represents an increase of 6 percent.
An average of £8 million annually is being spent by members of the BRC in an effort to thwart cyber-crime. 50 percent of participants reported cyber-attack increases during the past year.
The combined turnover of BRC’s membership amounts to £137 billion and represents 40 per cent of Britain’s retail sector.
Another study carried out by the Centre for Retail Research found that over 50 percent of theft from major retailers was committed by their own staff.
Loss prevention measures
When large retailers are spending almost £29 million each and retail crime is still escalating, there is clearly a problem. Sophisticated technology helps in many respects. CCTV and body cameras for store detectives certainly assist.
However, many smaller retailers can’t afford state of the art technology and even if they could, would it work sufficiently to prevent theft by staff?
Theft by employees takes two main forms. Direct theft committed by the employee and theft that takes place because of collusion with ‘customers’. The latter involves a retail staff member arranging for someone to come into the store to steal and the employee facilitating the crime.
Pre employment screening process
It’s logical to attempt to prevent crime but the way in which you do it doesn’t need to cost megabucks! When the pre employment screening process includes a lie detector test, you can ensure that not only is a prospective candidate honest but loyal too.
Responses to structured questions put to candidates by a qualified polygraph examiner give a much greater insight into the values of the person than a CV could ever do.
By choosing your staff carefully, you can almost guarantee that they will not steal from you or help others to do so. Our question to retailers is – can you afford not to use a lie detector test in the pre employment screening process? It’s affordable to all and potentially saves unquantifiable losses.
If you are a retailer, small or large, and would like to learn more about our polygraph services call us today for some free advice.