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Call Today (612) 353-5087   |   5600 Excelsior Blvd, Ste. 201, St. Louis Park, MN 55416

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How to Reduce Theft Risks in Your Business

Use These Helpful Security Tools and Tips

How to Reduce Theft Risks in Your Business

Shoplifting not only costs your business, but it’s so prevalent that it even affects the U.S. economy. According to the Annual Retail Theft Survey, companies lose an estimated $18 billion a year to theft. It’s easy for managers to shrug off everyday incidents—usually averaging less than $50—but the costs pile up quickly. Take a proactive approach to protect your Woodbury, MN property with these business security system features and tips.

 

SEE MORE: 4 Surprising Benefits of a Business Security System

 

Monitor Your Employee Activity

Employees are responsible for most business theft. Upgrading from traditional keys is one easy way to protect your property without targeting individual employees. Each employee has an associated code or key, so you know exactly when they came and left. If a theft occurs, you’ll know exactly who was there at the time. You’ll also know if someone tries to enter your store when they're not scheduled to work.

 

Have Visible Security Cameras

Surveillance systems should never be there to spy on customers or employees. Make sure cameras are visible and include signage stating your property has a security system in place. This will usually deter most theft since there’s too much of a risk of getting caught with little payoff. It will also help you with police investigations and insurance claims if you say you took every precaution to protect your assets.  

 

Keep Close Track of Your Money

Most employee theft comes in the form of cash. You should have additional security measures in place around cash registers and employee offices that include your daily deposits. This can be in the way of surveillance cameras, motion sensors, or additional security codes. Restricting the access to these vulnerable areas will help identify culprits while reducing overall risks.

 

Establish a Process in Case of Theft

If an employee notices a theft in person or a manager does via security alerts, make sure they know how to respond. Employees should not try to apprehend shoplifters themselves. Instead, they should immediately contact the authorities or any security personnel on site. Managers should tag surveillance footage from before, during and after the event to share with the authorities.

 

 Avoid Any Dangerous Hidden Areas

Everything in your store should be easily monitored. This will come down to proper camera placement, security mirrors, and display design. Embrace an open floor layout with more visibility and use a commercial lighting control system to avoid dimly lit areas that are vulnerable to theft.

 

Take Advantage of Video Analytics

Many business security systems now have video analytics software to monitor typical store traffic and automatically recognize suspicious activity. Receive an alert on your phone as soon as there is unusual traffic, or someone accesses off-limit areas. Have a protocol in place to approach potential thieves when this alarm goes off. Do not confront them but offer to help them if they need anything. This can help you stall until security personnel arrive.

 

Know as Soon as Someone Enters

Install motion sensors by your entrance, so you know when customers come and go. As soon as someone comes in, greet them and offer to help. Not only is it excellent customer service, but shoppers know you're paying attention and are less likely to steal. If you have items near the front of the store, it also makes it unlikely that someone can run in quickly and take anything before someone spots them.

 

A business security system is the best way to avoid theft by employees and customers. You’ll get an immediate return on investment by eliminating shoplifting costs. To learn more about our security features, call us at 612-353-5087 or fill out our online contact form.