Preventing Theft During the Holidays

Preventing Theft During the HolidaysThe holiday rush is the busiest time of year for businesses of all kinds. With more inventory, more employees, and more customers, the risk of experiencing loss and theft are increased. In fact, According to the National Retail Federation, retailers lost approximately $44 billion from theft in 2015. Of that amount, more than 34 percent was stolen by employees. As employee theft is second to shoplifting, taking preventative measures this season can reduce theft and improve your bottom line. Now is also a great time to review your PA Small Business Insurance package to ensure all of the necessary policies are included to keep you protected.

Get a head start on hiring.

Start hiring now to keep up with the demand that you’ll likely face as the month continues. Be sure to set aside ample time to train employees, as well.

Create an inventory management system.

This is paramount in tracking and managing inventory. A proper system will ensure the inventory coming in is sold and accounted for. Further, knowing what you have in store will increase efficiency and better service your customers.

Manage the registers.

Have employees sign in with a unique code when completing transactions. This will identify who did what on the register if a transaction raises a red flag. Further, managers should be given override privileges to oversee all transactions.

Keep an eye on security cameras.

Pointing security cameras, especially by the door and over the register, can prevent theft significantly. Or, consider hiring temporary security guards to monitor the premises during the rush of the holidays.

About GMG Insurance Agency

At GMG Insurance Agency, we work hard to insure businesses likes yours. Our dedication to customer service and providing affordable rates has allowed us to serve the needs of Pennsylvania residents for over 78 years. For more information on how we can protect you, contact us today at (855) 407-4450.