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Many a good idea for business growth has come from an employee. In order to enact it, though, they had to be confident enough and smart enough to know their idea was a good one, and then they had to share it with the boss. A minimum-wage book employee once thought that cafes should be included in bookstores, and everyone can see now what a success that idea has been.<\/p>\n
Like everything, though, using an employee’s idea because it sounds like a good one is a huge risk; however, it can be a calculated one, and when it works out the benefits can be life-changing. A few of the ideas below have worked for other companies; they may help you as well.<\/p>\n
Stop the Stealing<\/strong><\/p>\n Obviously, you don\u2019t want your shrinkage to be very high. Even in an office environment, employees have been known to steal office equipment: from pens and paper all the way to the occasional computer or high-end printer. If you run a retail business, customers tend to be the ones stealing, but the result is the same: loss in profit. So how do you prevent theft?<\/p>\n Costco has come up with a simple and effective way of preventing shrinkage. They hire a few people to stand at the doors of every store that check receipts for accuracy. They even make you open certain things \u2013 like a cooler \u2013 to see if you are hiding anything. Most of the high-end products are also locked away in a cage; when you purchase something like a GPS or a gift certificate, you have to go to the cage with receipt in hand to claim your item. Though it may seem a little rude in some cases, it works: Costco\u2019s inventory losses come in at .2{7e4ee7cd997d36f6dec43befd6b19c37edf0959bbf61766e988f901dd91e96d7} every year, while Walmart averages 1.6{7e4ee7cd997d36f6dec43befd6b19c37edf0959bbf61766e988f901dd91e96d7} a year in losses.<\/p>\n