The average organization will lose nearly $10 per day, per employee due to employee theft
Vero Beach, FL (PRWEB) March 1, 2010
Radiant Systems, Inc has recently announced the powerful anti-theft application that is changing the face of restaurant operations. Aloha Restaurant Guard ™ will help restaurant operators analyze the point of sale data and identities common restaurant employee scams and fraudulent activities. Aloha Restaurant Guard TM could not come soon enough with incidents of employee theft continuously on the rise.
Aloha Restaurant Guide TM is responsible for helping more than 3,000 US restaurants by tracking incidents of employee theft before they get out of hand. The system monitors all POS activities in real time and generates reports that identify trends that are consistent with some of the most popular restaurant scams. The system can also give insight into their best and worst performing employees.
Lori Kittle, vice president of information technology for Landry's Restaurants claims “we believe fraud and theft have been reduced not only by identifying specific instances, but more importantly by the environment of accountability created by this new knowledge of such identification."
The Impact of Employee Theft
However, it is not only the hospitality and restaurant industry that is currently suffering from employee theft. Large retail outlets such as Target, Wal-Mart, Sam’s Club, Best Bay and Big Y Foods have all felt the crunch of employee theft in the past. Large companies are often the easiest targets because there are simply too many employees and too many other important issues to deal with on a daily basis. Best Buy’s Director of Asset Protection, Tim Fisher, believe that “organized retail crime is a reality” and the worst is yet to come.
Employee theft accounts for ten times the value of street crimes losses in the United States and retailers are often the hardest hit. In fact, the International Foundation for Protection Officers reports that nearly one third of all employees will commit some degree of employee theft during their working time. Furthermore, 75% of those who have stolen or committed a white collar crime will do so again. Of these drastic numbers, only one in 28 employees will be apprehended for employee theft, according to a study done by Jack L. Hayes International.
Large companies, retail and otherwise, take extreme precautions against shoplifting and burglary with locked display cases, bullet proof glass, alarm cords, concave mirrors, security videos and professional guards. But what are they doing to protect their business from theft that occurs from within these closed doors?
Protecting your Business
Radiant System’s Aloha Restaurant Guard TM is one of the smartest ways restaurant owners are protecting their businesses from internal attacks. However, there are additional ways to protect your company from unwanted fraudulent activity.
One of the main ways business owners are protecting their businesses from the inside is through video monitoring. Although video cameras will keep an eye on employees, they also run the risk of causing information overload. Grocery stores and large retail chains will monitor their employees at the checkout and in the back rooms; however, according to Malay Kundu, a security expert and entrepreneur, “less than 1 percent of video ever gets looked at by anyone.” There is simply not enough time to analyze video input day in and day out.
The truth of the matter is this: no company, no matter how big or small, is completely safe from employee theft.
The reason is simple – most business owners do not know every single little detail about their employees’ histories. During the hiring process, business owners will conduct a quick interview discussing employment history, goals, education and reasons for wanting to work, followed by a reference check and then make a decision about hiring a potential employee. The entire process is quick but is it effective?
Solutions for 2010 - Employment Background Checks
Many large corporations and small companies are now focusing on a triple attack when it comes to the hiring process – the interview and the reference check, followed by an employment background check. An employment background check is a way for employers to access a person’s criminal record, credit report and social security identification to ensure that he or she is clean. Although conducting an employment background check and discovering that a potential employer is clean as a whistle will not guarantee that he will be the perfect fit for the position, it does add a level of security in knowing that he has not been charged with theft, embezzlement or other crimes that could jeopardize the future of a company.
Aloha Restaurant Guard TM is responsible for protecting the future of many restaurants across America; however, other businesses are still struggling to stop employee theft and fraud before it negatively impacts their business. Employment background checks, combined with a security system such as Aloha Restaurant Guard TM, can drastically reduce the chance of employee theft and other internal attacks.
Hayes International. “Theft Surveys.”
International Foundation for Protection Officers. “Employee Theft.”
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