Good Background Screening Programs Limit Employee Theft

Jason Morris

Security Director News is reporting that the U.S. Shrink rate has dropped to the lowest level in 17 years. (In financial accounting the term inventory shrinkage [sometimes truncated to shrink] is the loss of products between point of manufacture or purchase from supplier and point of sale.)  Why you may ask? Today organization’s put a priority on security! Years ago programs such as access control, security systems, network security and employee background checks was unheard of. Today it’s the rule rather than the exception.

Shrink rate drops to lowest level in 17 years

ORLANDO, Fla.–With talk of the growing risk of organized retail crime, active shooters and data breaches getting prime spotlight at this year’s National Retail Federation’s Loss Prevention Conference & Exhibition, the news that inventory shrinkage as a percentage of sales fell to its lowest level in 17 years in 2007 was warmly welcomed.

The shrink rate of 1.424 percent represents a 9.3-percent decline from the 2006 results of the National Retail Security Survey, said Dr. Richard Hollinger, professor of criminology, law and society at the University of Florida and author of the report. This figure marked a six-year downward trend and is also the lowest rate in the history of the NRSS.

More

Follow Me

Jason Morris

President & Chief Operating Officer at EmployeeScreenIQ
A veteran screening and risk management professional, Jason Morris founded EmployeeScreenIQ in 1999 and acts as the company’s chief operating officer and president. Morris is a frequent speaker delivering captivating, interactive discussions on background checks, global screening, recruitment and staffing. He educates audiences in best practice initiatives as they relate to organizational employment screening programs. Morris has been quoted in numerous business and industry publications including The Wall Street Journal, MSNBC.com, USA Today, New York Times, among others. He is also a licensed private investigator in the states of Ohio, Illinois, New Jersey, Texas, Arizona and Nevada.
Follow Me
Tweet
Share
Email
Share