Business Loss Prevention

Surprising Business Loss facts defined.

• Burglary - breaking into and entering a building with the intent to steal. Losses caused by commercial burglary amount to approximately $1,490 per incident.
  
  
• Larceny / Theft - the unlawful taking of someone else's property, including shoplifting, pick pocketing, and other unarmed theft. The average loss in the United States from larceny, as reported by the FBI Uniform Crime Report, was $678 per case reported.
  
  
• Robbery/Holdup - the unlawful taking of someone else's property while armed with a weapon. While robbery has dropped overall, employees working alone at night in certain types of businesses, particularly stores or restaurants, are vulnerable to robbery. Robberies and other crimes now account for 77 percent of all workplace homicides.
  
  
• Fire - loss generated from a fire, including smoke and water damage. According to the National Fire Protection Association's U.S. Fire Problem Overview Report, 17,000 total reported structure fires were responsible for 16 deaths, 631 injuries and $776.5 million in direct property damage.
  
  
• Sweethearting - when employees knowingly ring up lower totals at the register for items purchased by friends. Did you know that your employees are 15 times more likely to steal from you than a customer? In a recent National Retail Security Survey, employee theft was reported as accounting for 42.7 percent of all retail losses.
  
  
• Inventory Shortages - loss resulting when a vendor invoices you for a specified quantity of product, but actually delivers a lesser quantity. Delivery shortages are common. The National Association of Convenience Stores estimates that vendors account for 15 to 20 percent of in-store shrinkage.