How Are You Dealing with Employee Theft?

It takes a lot of time, money and energy to hire a new employee. Sure, you may do your due diligence, and cross all of your T's and dot all of your I’s, but there's still always the chance that you’ve made the wrong decision. Even employees with the best CV and references could turn out to be thieves.

When it comes to theft in the workplace, employers are dealing with it from every angle. From skimming money out of the cash register and taking merchandise, to overreporting time worked and stealing intellectual property, employee theft can look very different from business to business. Employers want to trust their employees, but must balance how to protect themselves and their businesses at the same time.

At Off Duty Officers, we understand that talking about employee theft is not a pleasant topic. But it is something that must be addressed. The latest statistics indicate that US businesses lose approximately $50 billion every year from various forms of employee theft. Oftentimes, the perpetrator is not caught on the first time, the second time or even the third time. Many have been stealing for many years and have never been caught.

If this was happening at your company, wouldn't you want to stop the thief in their tracks? While it may not be possible to put an absolute end to all types of theft in the workplace, there are plenty of things business owners can do to reduce theft. 

3 Things You Can Do to Stop Employee Theft

Maintain strict record keeping procedures. 

What is the number one reason why employees steal from their employers? It's because they know they can get away with it. If you do not have strict and consistent record keeping procedures in place, you are leaving yourself vulnerable to theft. 

For example, if you deal with cash at your business, it is critical that you have processes in place that calculate how much money is in the register at the start of a shift and at the end of a shift. It should match all of the sales receipts exactly. Similarly, keep and maintain an accurate inventory log so you can cross-reference with your sales to quickly become aware of when merchandise is missing. Finally, ensure there is a clear and consistent system in place for clocking in and out, to protect against employees from taking long breaks or leaving early on your dime.

Get serious about access control. 

You want to trust your employees; however, if you have identified that a theft is occurring, you may want to consider the amount of access to your business that your employees have. Sometimes, your employees do not need to have access to certain areas of your property that are unsupervised or contain valuable assets. Access to cash, online purchasing accounts, company equipment and even credit cards can be targets for employees who want to take advantage of your business. Carefully consider who has access to these valuables, and who should have access to them. 

Get help from professional security guards. 

Even with impeccable record keeping and limiting access where appropriate, you may still be at risk for various forms of employee theft. Working with a professional security guard company can help fill in the gaps to ensure that you are covered and your business is protected. 

Security guards can perform a wide variety of duties to deter employees from stealing and to catch them if they attempt the crime. Oftentimes, the mere presence of a security guard on the property is enough to make an employee think twice about attempting a theft. 

Businesses across a variety of industries have found that security guards can help them manage access to areas where valuable merchandise or stores of money are held. They can ensure that only those authorized on the premises enter the building. They can identify suspicious behavior once they learn your systems and routines.

If you are a business owner who is concerned about employee theft, it is time to take action by working with a professional security guard company like Off Duty Officers. Employee theft can happen anywhere, from retail establishments and restaurants to hospitals, construction sites and commercial properties. 

Do not wait until theft becomes an issue. Contact the security specialists at Off Duty Officers today to learn more about how our guards can offer you the security and peace of mind that you deserve.