Employee Loss Seminar
This session will cover the following topic, plus many more. Each subject includes how to detect & prevent loss in each area.
Collusion/Sweet hearting. Includes fraud, price discounting, theft assistance and scouting
Fraud vs. theft. We will examine the emerging trends and most common techniques used.
Fraud. Fraud has become the most injurious form of employee-generated shrinkage, often involving data manipulation in a variety of areas.
Theft. Theft remains the most frequent cause of loss, but not always the most damaging.
Cyber theft & fraud. Cyber activity may be less obvious, but often involves employees who have access to sensitive components of your financial chain of operations
Bookkeeping. Bookkeeping is the most frequent form of loss in smaller, more autonomously operated firms and offices.
Supply line management. Pricing, rerouted shipments, inadvertent error and preferred suppliers contribute to shrinkage here.
Refunds/Rebates/Discounts. Whether it is rebates, etc. to friends, customers or suppliers, this often is an area of weakness.
MOI. We will apply the MOI principle to examine your specific risk areas in your business.
Supplier/Driver
While there usually are fewer suppliers, direct vendors, salespersons and drivers involved in many businesses, roque personnel can do incredible damage, due to their access to privy information, personnel and areas of your operation.
Rebates/Refunds/Returns. In retail operations, this is a frequent area of concern.
Drop shipments. Drop shipments often are spur-of-the-moment purchases that do not follow the usual chain of authority, making them vulnerable to deviance.
Pricing variation. Prices quoted versus price delivered are a favourite opportunity for manipulation by salespersons and suppliers.
Deals. “Under-the-table” deals may be tempting, but frequently come at the expense of another client, who has been defrauded.
Theft. The simplest technique for drivers and salespersons is direct theft.
Substitution/Bait-n-Switch. Similar to price variations, bait-n-switch is easy to detect if proper controls are in place, but a tempting opportunity if none exist.
Collusion. Working with familiar employees and department managers, many sales people and even the suppliers themselves may strike deals with employees that damage your operation’s bottom line.
MOI. We will apply the MOI principle to examine your specific risk areas in your business.
Customer Theft & Fraud
Easily the most high-profile source of loss, customer theft also receives the most attention. Yet, it is only one part of the risk that your retail business faces, whether you are a storefront, warehouse or direct-to-consumer supplier.
Fraud. This remains a lesser factor in shrinkage at the hands of customers but can be a significant problem in specific business sectors.
False Pretenses. False pretenses generally is associated with bad cheques, but fraudulent credit, misrepresentation and other forms of false pretenses are problematic in many service industry businesses.
Legal Rights. It is vital to know your rights and responsibilities in general, but very crucial to know them as they impact on your interaction with customers and customer thieves.
Theft. The most high-profile aspect of shrinkage and the one that gets the most attention by the media, is an area that can be controlled effectively with the right tools, techniques and knowledge.
Collusion. Collusion between staff and customer can be quite difficult to detect. This form of theft or fraud often occurs in service sectors like restaurants, repair shops, tech suppliers and other service businesses, but can tale place in any business.
Returns. Returns and refunds areas often operate with a degree of autonomy and trust, making them vulnerable to abuse by staff or customers.
Packaging. More appropriately, repacking, or rebranding higher-priced goods and services to incur a lower cost may take many preparatory steps, but, if not monitored, can be a costly area of loss.
Methods. The session will discuss the telltale signs of theft and fraud, how to anticipate, how to prevent and how to respond to them.
MOI. We will apply the MOI principle to examine your specific risk areas in your business