Why Is Surveillance Necessary For Businesses?

November 13th, 2018

For LA retail businesses, business owners doing what they can to prevent loss and dishonest activity is an unfortunate reality that must be faced. Typically, this theft and loss prevention has a strong focus on preventing loss from the outside, such as a customer shoplifting, but today’s business owner should also consider the inside as well. While focusing on outside loss is a legitimate and important concern, employee theft is an incredibly common problem a business owner may be ignoring.

No New Orleans, LA business owner wants to project that they do not trust their employees, but no business owner wants to be taken advantage of either. Having high-quality surveillance systems in place can help to prevent losses from the inside while keeping watch on outside losses as well. Surveillance cameras are a necessity for businesses, showing business owners and management everything going on within the business from actions by customers or clients to actions by employees themselves. 

Laying Out The Facts Of Employee Theft

Many LA business owners do not realize just how prevalent employee theft really is, and what these actions do to affect the bottom line of the business. In some instances, employee theft is brazen and obvious, like taking merchandise off of a store shelf without paying, but in other instances, it may not be so clear. An employee taking extra pens from a supply closet, or taking home condiments from the break room – these are those grey areas that can be addressed using video surveillance footage. In these instances, employees may not realize what they are doing is wrong, and the issue can be corrected simply with a quick training session.

To bring to light some facts and statistics related to employee theft, a few startling points include:

Employee theft adds up to more than $50 billion in losses for businesses in the United States each year.

A whopping 64% of businesses have been affected by employee theft at some time.

75% of employees admit to stealing at least once from the workplace.

33% of business bankruptcies have been at least partially impacted by instances of employee theft.

40% of employee theft incidents involve the theft of money.

On average, it can take as long as 2 years before employee theft and fraud is detected from the first incident.

Nearly 7% of the average business’s yearly revenue is lost due to instances of employee theft.

Action Effectively Deters Employee Theft

Taking action protects your business from not just the obvious “bad guys” on the outside, but employees who may take advantage of your business as well. By installing a high-quality surveillance system, businesses can rest assured that they’re protected from both the outside and the inside at the same time. For all businesses, a video surveillance system creates a happy, healthy, and secure business atmosphere that is ripe for success. To learn more about surveillance system installed in your business, or how businesses today need protection from the inside, contact Sun Ray Technologies today.