Ted L Moss, Security Expert

Prevent Shrink, Increase Profits: the Impact of Responsible Hiring on Retail Shrink

With retail shrink sucking a whopping $31 billion dollars or more out of retail profits annually, finding effective ways to combat shrink in the retail environment is one of the best ways to increase a business’s profitability. And although shoplifting is the most recognizable form of retail shrink, it is not the most costly—not by far; individuals within an organization account for much higher levels of retail shrink.Three out of the top four sources of retail shrink come from either employees or vendors. Administrative error alone accounts for up to 15% of shrink; vendor fraud, most often committed by vendors invited into the store for purposes of restocking, constitutes the smallest percentage of shrink (within the top four), but still ranks high on the list.

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International Background Checks

Criminal record searches are available in many countries. Since September 11th,
many companies are offering these checks to the business community. Not all of
these checks are accurate and do not translate well to American criminal justice
standards.

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