Every business on the planet has the potential to be stolen from. Some of the most susceptible are convenience stores, retail stores, and especially larger big-box stores. Insurance costs for theft liability can make insurance deductibles and premiums go through the roof.
To lower your company's liability, it can be very helpful to have your employees be required to take a theft prevention class. Some employers may see this as an unnecessary cost, but in reality it will have a two fold effect on your company's ability to meet the bottom-line better than ever before.
Less Theft
The end result of your employees taking a theft prevention class is that the overall theft will be lowered. This is for two reasons. The first, is that the employees will be able to have an actual trained eye when looking for thieves. This will help them spot problematic behavior that can lead them to preventing or stopping a theft in action.
The second way that the losses due to theft will be cut is by making employees realize the dangers and effects that come from stealing from their employer(s). One of the most common hiding places for thieves is within the ranks of your own employees. Inside-job theft will cost more to a business than any single thief from the consumer world.
Insurance Claims
For many larger businesses, theft insurance can be quite pricey. This is because, the more stores that are owned, the more products present, which means more customers, and an overall higher chance for losses by theft. Since all the employees will have loss prevention training, that means they will all know what to look for when someone may actually be in the store to steal... instead of buy. When insurance companies know that the odds of being stolen from have been lowered by education, the price of the insurance goes down.
The deductible and the premium will drop, giving the employers a break. That financial break can eventually be paid back to the employees with small bonuses for going a certain amount of time without any thefts or losses.
Theft classes will also teach you how to spot an identity thief. This is someone who is trying to make a purchase in your store with someone else's credit information, stealing their identity. If this happens, if he or she successfully buys something from you, you may be liable to forgive that debt to the credit card company. A loss is a loss, and identity theft hurts more than just the person they took the identity from. The store they buy, or rather steal from is hurt as well.
For these two simple reasons, making your employees take theft classes will reduce your company's liability. Experiencing less theft and smaller insurance claims will not only reduce liability, but it will increase profits in the long run. The classes aren't expensive per person, and can even be taken out of their checks in segments to pay for the classes. This method will also ensure they are enrolled into, attended, and passed the theft courses.
