5 Tips to Reduce Employee Theft

May 24th, 2024

No business owner in , would want to come across the possibility of his/her business property being stolen from by his/her employees. According to a survey by Jack L. Hayes International, thefts initiated by employees can be 5.5 times more than what is carried out by shoplifters, and that potentially means significant loss and other unimaginable risks. However, employees having theft intents can be stopped assuming that a business in , invests on the following.

Running thorough employee background checks

Chances of theft incidences initiated by employees can be on the rise especially if a business in , is hardly conscious of the kind of people it welcomes to its environment. Any employee background check should have the motive of preventing any malice characters from possibly joining a firm. Persons with drug addiction problems are at a high risk to engage in malice intent such as thefts, and such actions can be prevented if a drug test is given thorough thoughts during recruitment phases. Not so many business owners would stomach the thought of welcoming a person convicted of theft to a firm. Employee background screening should cover a person's criminal history since this what often determines the kind of personality that a firm may welcome to its workplace.

Favoring the 'buddy system' in the workplace

Incidences of thefts carried out by employees in , are likely to increase if employees in most cases are made to work all alone. According to Doyle, pairing up employees can significantly thoughts of thefts initiated by employees and the psychology behind this thought of reason is that employees who have the intents of stealing from their employers often prefer to engage in such actions solely. In sensitive business sections such as the cash register, it would be insanely unwise to have an employee all by him/herself. When doing the pairing, don't put together employees who seemingly share a lot regarding their personalities. Instead, often rotate employees and doing this can be difficult for any planned theft by employees to have traction.

Have a keen eye on your employees

Employees in , are less likely to think of theft if they know that their actions and movements are being strictly and closely monitored. Video surveillance can best do the job, and the benefit they offer is that they act as strong deterrents. Always insist on having security video surveillance installed on important sections of a business premise and at no time should you forget to monitor the installed security systems. Opting for surveillance software having facial recognition feature can ensure that you cover every employee's tracks and possibly identify any fraudulent intent before it unravels. For maximum security surveillance effectiveness, you should limit access to the systems to only a few people since some persons may tamper with their security surveillance strengths and open up paths through which thefts by employees can go unnoticed.

Beware of simple routines like trash removal

Some employees in , may steal valuable merchandise by hiding them in an outgoing trash and retrieving the 'stolen' items at a later time. Trash is a witty choice because it is most likely to escape the attention of even the strictest business owners and the reason for that is that not many people often have interest on what a trash may have. You can reduce employee theft intents via this method by using clear garbage bags that can clearly show the contents of the trash being moved out and requiring dumpsters to be locked at the appropriate time.

Establish a confidential employee communication line and know your employees deeper

You should set aside a confidential email address which employees can use to report their co-workers whom they suspect may be engaging in theft. Besides that, you should deeply know your employees and that can mean digging deeper into what truly their inner and outer personality represents. Knowing if your employees are having difficult financial times can enable you to help them accordingly instead of waiting for time to override their thoughts and possibly drive them to steal your business merchandise in , .