What is important to know about employee error, is not the direct cost associated with the error, but the cost of rectifying the error. What do I mean by this?

It will cost a store with a turnover of over 10 million, three hundred and six thousand to rectify an employee error of thirty-six thousand.

So, when calculating the cost of retail employee error, simply calculating the direct cost associated with the error does not present the complete picture. Because the cost of rectifying the error is multiple times the direct cost of the error.

Many retail brands that recognise the impact of employee error in their store, neglect to consider the impact of merchandising, procurement or procedural error.

The bulk of attention is focused primarily on pricing, administration or accounting error.

However, merchandising, procurement or procedural error are actually responsible for a larger percentage of losses within retail organisations.

Therefore, reducing errors relating to merchandising, procurement or procedural in addition to pricing, administrative and procedural errors will reduce retail shrinkage drastically. This course share strategies for reducing all types of retail employee error.