Every single year, businesses all across the United States will lose billions of dollars due to employee theft. There are a number of studies that have shown the more an employee believes they are likely to be caught, the less likely they are to actually steal.
Smaller businesses are much more susceptible to employee theft than larger businesses, but no business is completely immune. The key is to take smart control of your business – regardless of the size or number of employees you have.
Preventing Employee Theft
For business owners who are ready to take a proactive stance against employee theft, use the following steps:
• Screen every employee prior to hiring them. This is the best defense against theft internally.
• Don’t have less than two people close a store at night.
• Be sure all keys to the business are distributed to employees with the term “Do Not Duplicate” on them.
Warning Signs of Employee Theft
In addition to taking steps to prevent employee theft, it is also a good idea to be aware of the most common signs that an employee may be stealing. Some of these include:
• The employee is living beyond their financial means.
• The employee has a substance abuse issue.
• The employee constantly violates policies.
• The employee appears troubled or immature.
Taking Steps to Deter Theft
There are a number of ways you can prevent the opportunity for theft by employees, as well. For example, consider using access badges or keyfobs, rather than keys, that way you know who is going in and out at night.
You can also install a video system, which allows you to monitor the business when you are not present.
Taking the steps here and utilizing the tips will help minimize and potentially eliminate instances of employee theft for any business.