http://www.theprofitexperts.co.uk, http://www.losspreventionvideos.com, Romeo Richards,
Do you know the cost of employee errors to your retail store?
Do you know how many sales you need to make to recover losses causes by an incident of employee error?
Employee errors in pricing, accounting and receiving contribute approximately 18% of retail shrinkage; this equates to ￡18,623 in losses to an average supermarket or store and almost ￡49,679 in losses to a superstore. This means that a store or supermarket that operates with a 1% net profit will need to make an additional ￡3million in annual sales in order to recover profit lost due to employee errors. By the same measure a typical hyper store will need to increase its sales by ￡8million.
Therefore, it you are a Wal-Mart, Tesco or Metro you will need to increase your sales by 0.3% to recover the loss of a can of baked beans that was left to expire. Loss prevention activities in most retail organisations are never focused on employee error for them retail loss prevention is synonymous with retail fraud; therefore the majority of their activities are geared towards theft and fraud prevention leaving the issue of employee error unabated.
This e-book aims to change the retail perception of loss prevention. We are aware that even when the issue of employee error is discussed, the focus is mostly on errors such as pricing, administrating or accounting, with scant or no attention paid to merchandising, procurement, order picking or procedural errors that are responsible for a large percentage of losses within retail organisations.
This e-book delves into those types of errors and much more. We broke employee errors down into administrative, shop floor, cashier and warehouse errors. If any retailer read this e-book and applied the principles within it, they will be able to reduce their incidents of employee error by 12% in as little as 90 days.
Your will learn
• What Constitutes as Retail Employee Error
• How to Calculate the Cost of Employee Error
• How to Calculate Additional Sales Required to Recover Losses Caused by Employee Error
• Types of Employee Error
• How to Reduce Employee Error
• The Ultimate Employee Error Prevention Formula
• How to Apply the Lessons from This E-Book to Your Business
This video is suitable for individuals involved with the following terms:
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