Image by Peggy und Marco Lachmann-Anke from Pixabay

By Lizzie Weakley

Keeping your small business safe and secure can be a daunting task. Unfortunately, loss prevention is an important factor in running a successful business, regardless of size. Whether it’s theft, shoplifting, or employee misconduct, loss prevention is something that all small business owners need to take seriously. Here are some of the best methods of preventing losses in your small business.

Employee training & education

One of the best ways to prevent losses in your small business is by providing employees with proper training and education about the importance of following company policies and procedures. Make sure all staff members understand the do’s and don’ts of handling customers’ money and property. Educating staff on how to handle situations such as shoplifting or employee misconduct will help reduce the chances of losses occurring due to negligence or lack of knowledge. For example, having employees at all levels participate in harassment training can reduce incidences of sexual harassment and workplace bullying, thereby increasing productivity and improving worker retention.

Unarmed security presence

Having an unarmed security presence at your store can be a great way to deter would-be thieves from attempting theft or shoplifting at your business. An unarmed security guard can provide a visual deterrent for would-be criminals and also offer customer service when needed. Unarmed guards can also be used to monitor video surveillance systems, ensuring that any suspicious activity is quickly identified and reported if necessary. Having an unarmed security guard onsite will give peace of mind knowing that you have an extra layer of protection against potential thefts or other criminal activities.

Hidden video surveillance cameras

Using hidden video surveillance cameras can help protect your store against theft or other criminal activities. Hidden cameras are especially useful if you suspect that certain customers might be targeting specific items in your store for theft or vandalism purposes. By having multiple cameras throughout the store—especially in areas where merchandise is most likely to be stolen—you’ll be able to monitor any suspicious behavior more closely and respond quickly if necessary. It’s important to make sure all employees are aware that there are hidden cameras present so they remain alert during their shifts.

If you ever have reason to suspect any employee of something such as financial fraud, this  might be the time to bring in some experts. Professional detective solutions can provide private investigators with the appropriate experience to help you uncover any fraudulent activities.

Regular inventory checks

Finally, conducting regular inventory checks is one of the best ways to prevent losses in your small business. Being aware of what products you have in stock at any given time will allow you to quickly identify any discrepancies between scheduled stock levels and actual stock levels which may indicate possible theft or mismanagement by staff members. Regular inventory checks should also include checking expiration dates on perishable items as well as keeping track of which products need replenishing more often than others so you can adjust ordering accordingly and reduce unnecessary spending on overstocking products which may expire before being sold off.

Loss prevention isn’t something that should ever be taken lightly when running a small business; it’s essential for protecting both yourself and your customers from financial losses due to crime or negligence within the workplace. With proper training for staff members, an unarmed security presence monitoring the premises, hidden video surveillance systems installed throughout the store, as well as regular inventory checks conducted regularly, you’ll have peace of mind knowing that you’re doing everything possible to protect yourself from potential financial losses due to crime or mismanagement within your small business environment! You’ll also gain valuable insight into how people interact with each other while shopping at your store which could further improve customer service quality moving forward! All these measures combined will go a long way towards helping ensure long term success for your small business!

_______

Lizzie Weakley is a freelance writer from Columbus, Ohio. In her free time, she enjoys the outdoors and walks in the park with her husky, Snowball.