|
In a business that is 90 percent cash, there isn’t much that can top cash control on the list of priorities. There are numerous ways ranges can lose cash, but the single largest area of cash loss comes from internal theft. Hiring well can minimize your exposure. When needing to hire additional personnel, ask trusted employees if they have friends interested in joining the staff. The idea being that people with similar ethics and morals tend to run together. Don’t overlook senior citizens, who tend to be very responsible employees.
Make sure your theft policy standards are stringent and clear. Employees should know that there is zero tolerance when it comes to theft. Make it clear that this is a one-strike-and-you’re-out situation and that anyone who steals is subject to prosecution. Upon hiring, have employees sign a form that states they are aware of and understand these rules and procedures.
You also should have some type of cash control system in place that reduces the chances for employee pilferage and unaccountable inventory shrinkage. Even good kids get tempted. When no one is around they might think they can grab a soda and nobody will know. And nobody may, if it happens once, but it is the pattern to such instances that you need to be on top of.
The number of voids will be one of the first indicators of a problem. Any time a void is done on the register it provides access to the till. A significant number of voids is to be expected with a trainee, but when the numbers increase with an experienced cashier, something is wrong. Shorten the learning curve by making sure that your point-of-sale system is simple enough that after surviving one busy shift, any new employee should have a pretty good comfort level with it.
There is always going to be a bit of discrepancy when you reconcile the till. Mistakes do happen, and $10 to $15 is relatively normal. Beyond that there is an issue. Other ways to spot a problem in the till is if the day’s business doesn’t match the profits. If you had a busy Saturday and it seems as busy as the previous Saturday, but the numbers are $500 less than the week before, be suspicious.
If you don’t already, reconcile the till at each shift change. This will help you identify when the problem is happening and the key players involved.
It is also worth it to invest in a security camera to watch the register. This can prove invaluable as both a preventive measure and for identifying your thief.
Being a sharp observer lets employees know they can’t get anything past you, and it also helps you detect a problem before it gets out of hand, thereby keeping your profits flowing the right direction.
|
