Shrink

The big thing at work at the moment is the drive to cut shrink.

Shrink is the word the company use to describe stock loss. There are three areas where this occurs- Bad accounting procedures, shoplifting and staff theft.

We had a little meeting with the store manager today and he went through it all. I can't remember the figure that the company is losing every year to shrink but it is mega millions of pounds. Our own store is losing £6000 a week. That's a brand new car for every member of staff over the year.

The thing that is significant about this, is the breakdown of where it's coming from. A third of it comes from bad practice eg incorrect till procedures, stockhandling, etc. Another third goes to shoplifters,(cut their hands off I would.) which leaves a third of the staff are fiddling. That's £2000 a week going out of the staff door. The company have now been putting covert cameras in staff only areas, which worries me a bit. I hope they haven't seen me scratching my backside!