Employee Theft: How To Make Sure It Doesn’t Affect Your Business

You never think it’ll happen. Your own employees stealing from you?! It appears absurd on the surface. But, it’s a very real possibility, and you’d be amazed at how often it occurs. All it takes is a few bad apples in the pack to cause some real damage. If you’re not prepared to deal with it, the business could end up in serious trouble before long. That’s why I’ve put this brief guide together for you. If you want to avoid employee theft, follow these suggestions.

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Employee Training

In the first instance, it’s imperative to let your employees know that this sort of behavior will not be tolerated. By setting clear boundaries and rules, you won’t find yourself in a state where an employee claims they “didn’t know” about them. Also, train your employees on how to spot any potential fraudulent activity. If they’re on the lookout as well as you, you’ll have a better chance of putting a stop to it.

Security Tech

 

If you’re willing to implement technology for security purposes, you’ll go a long way. Start with things like CCTV cameras, for example. Put them around the building, and you might just catch fraudulent activity red-handed. Also, scanners at the front of the store or office can ensure nothing gets out without being approved first.

 

Random Audits

I’ve worked in businesses where managers weren’t around all that often. When they weren’t, some employees would take items and promise to pay for them later. They’d often forget. So, to counteract this, hold random audits every now and again. If an employee has decided to steal, they’ll be caught when an item is missing. You could even make this process more accurate if you buy barcodes to stick onto each product. It’ll either force the person to fess up, or everyone will have to be held accountable.

Screen New Hires Effectively

 

When you bring a brand-new person into a business, you’re always running some degree of risk. You don’t know this person—you’ve only just met them and spoken to them for a small amount of time. The way in which you question them before bringing them onboard is crucial. Or, if you don’t feel confident doing this, you could outsource the responsibility to the experts. They’ll know exactly what to look for, and they can prevent you from making any devastating mistakes.

 

Understand Your Finances

 

We’ve all heard of catastrophic instances where embezzlement has taken over. When you leave your finances under the control of one or two people, you never know what might happen. Instead of trusting them completely, it’s beneficial to understand your finances more intimately. Do you know what all those facts and figures mean? Are you constantly on the pulse of your profits and losses? If you’re not, it’s time to start learning about them.

It’s time to take employee theft seriously. You might never think you’ll have to face it in your business, but you never just know what’s going on. Keep a close eye on everything you see around the workplace, and never be too trusting.

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