$32 Billion lost!
$32 Billion! That’s right, businesses across the U.S. lost a total of $32 Billion in 2014 due to theft according to the National Retail Federation. Reducing the amount of theft is just one great reason to consider a surveillance system for your business. Keep reading for other great reasons you may not have considered.
This is always a tough subject. Business owners want to believe that their employees can be trusted. For the majority of employees, this is true. However, just one or two dishonest employees can cost your business thousands of dollars a year. 1 out of 40 employees was apprehended for theft by their employer in 2012. That’s according to a retail theft survey conducted by Jack L. Hayes international, a loss prevention consulting firm. It’s also suggested that thousands of incidents occur without ever apprehending the employee at fault. Even more startling is that one-third of small business bankruptcies are the result of employee theft according to the U.S. Chamber of Commerce.
This is one area where security and surveillance cameras have been extremely effective. Just knowing that the cameras are there and recording reduces the likelihood of employees stealing cash or inventory. One local business experienced significant losses of certain small items. We installed a very cost effective CCTV system for them, and immediately the manager noticed the loss of inventory stopped! The system has paid for itself in less than 2 months. Now that’s a return on investment!
$13 Billion of goods are shoplifted every year. That is $35 Million per day, according to a study by the National Association for Shoplifting Prevention. Shoplifting has affected 75% of small retail businesses. While many small businesses can not afford to pay for a full-time loss prevention officer, the installation of a small security camera system can prevent thousands of dollars worth of losses. Many small businesses are finding that a camera system pays for itself in 6 months or less. Shoplifters take notice of cameras and know that shoplifting from a store with a good camera system is more likely to land them behind bars.
Slip and fall, sexual harassment, assault claims, and anything else you can imagine. People are suing businesses every day for fraudulent reasons. Without having a way to prove these claims as false, your business may be out thousands of more. A simple video showing exactly what actually occurred could save you time, money, and frustration caused by these often frivolous suits.