retail news in context, analysis with attitude

The Contra Costa Times reports on a University of Florida survey saying that "employee theft amounts to about half of inventory losses, while shoplifting makes up about a third." Retailers took a $15 billion hit from dishonest employees in 2002, according to reports.

The best way to fight this trend, according to experts, is to be more vigilant about hiring practices, to train employees in ethical issues, and to be public about a company's strategies for combating employee theft.
KC's View:
On the one hand, you have to wonder about a culture in which a company has to teach employees why theft is wrong.

On the other hand, you have to wonder how companies are going to find the time to educate employees about such things when they have a hard enough time finding halfway decent employees to man the checkouts and aisles.

We think the key is finding ways to make employees feel that they have a stake in the business - both an emotional stake and a financial stake. Make them feel and act like owners.

That's something that too few companies do.