Security is a primary concern on the forefront of many businesses, particularly given the recent events of September 11, 2001. Security and its relationship to employee theft is yet another concern. Today, businesses are more focused on security tactics to target and thwart internal theft. This fact is particularly evident in retail operations. The latest National Retail Security Survey reports that losses from employee theft have reached record levels and that total inventory shrinkage cost the nation's retailers $32.3 billion last year, up from $29 billion the year before. Employee theft accounts for 46% of the total retail theft reported in the United States.
In general, employee theft is more a question of integrity and that must be communicated from the highest levels of the organization. While businesses should be managed with good strategic vision and tactical execution, employee-related problems inevitably arise. The question of employee integrity yields serious consequences for a business. Unless isolated and dealt with swiftly, these problems may have serious long-term crippling effects. Mysterious disappearances, misapplication of funds, embezzlement: the descriptions may differ, but stealing from your employer in any form is theft. The issue is extremely sensitive as it may involve co-workers and associates. However, so are the consequences as they can be significant and potentially lead to the failure of the targeted business.
The arguments presented in the preceding paragraph related to use of security identification badges in eliminating employee theft does not sufficiently substantiate, nor directly support the conclusion. The author merely leaps to the conclusion that since all ten client companies use security ID badges and that no incidence of employee theft has been reported, that the badges must be the sole contributing factor to the elimination of employee theft.