Counting The CostSource: Tellermate, Inc.
As employee theft remains on the rise in the UK, Dave Lunn from Tellermate looks at the latest trends and considers whether the answer lies in new technology or a different approach by management.
There is little doubt that theft by dishonest employees remains a major headache for retailers as it continues to contribute to a significant proportion of UK shrinkage figures.
According to the latest Global Retail Theft Barometer, employee theft in the UK increased by 7% in 2009 when it accounted for an alarming €2.08bn in lost revenue. We also know that dishonest employees are rarely apprehended by their employers (as few as one in 30), despite stealing on average eight times more than a typical customer caught stealing.