Employee theft prevention can appear to be a difficult endeavour. You’ve created a relationship of trust with the people who manage your company, so taking proactive actions to prevent internal theft can feel like a bet against them. However, neither you nor your staff is required to think in this manner.
Stopping an employee from stealing helps your company, which protects jobs. Internal theft, on the other hand, can take several forms, each of which can be stopped in a different way. What is the most effective strategy to combat various sorts of employee theft?
Stealing Cash From The Register Or Safe
Depending on the company, an employee’s access to cash will differ. Protecting small cash will be critical in terms of store security. You’ll need a safe or a lockbox if you don’t make cash deposits at the end of each business day.
Even if you buy a safe made by one of the top safe companies, employee theft is still a possibility as long as a worker is required to unlock the safe to keep the loose cash. Cash can also be snatched before it is stored or deposited.
Misuse of Supplies
Even if there is rarely a financial benefit to an employee taking supplies, the cost of stationery, toilet products, and snacks can add up quickly. This isn’t always a fireable violation, but the expenses can build up quickly if the behaviour continues.
Consider that certain security gadgets intended to defend higher-value things can also protect supply when calculating the RIO of your security. You might adjust your storage processes to keep supplies that are commonly stolen or misused in more secure locations.
Timesheet fraud costs a company money, whether it’s unauthorised breaks, repeated lunches, late arrivals, lying about overtime, and so on. Though this type of fraud isn’t typically taken into account when it comes to preventing employee theft, it may be prevented and caught with the correct security measures.
When it comes to employee theft, documentation is crucial. It can be tough to verify staff arrival times if your security cameras are not protecting your property by filming all entrances and exits. When exiting or entering the building, an employee should be visible.
Employees can divert cash in a variety of methods, some of which are more quickly caught than others. The most typical deception is erroneously registering purchases and pocketing the difference. Contractual nepotism is one of the more advanced approaches.
Without doing a risk assessment, it’s difficult to tell what kind of line items in your business security budget will help with this. How and by whom are your funds allocated? How is it verified if defective products are sent or discarded?
Misuse of Benefits
Employee theft can take many forms, including extending employee discounts to friends or leveraging access to equipment to provide free services. Clear expectations, rather than actual security measures, are the key to prevention.
When everyone in a team understands what is appropriate, they cannot be persuaded to overlook other employees’ bad behaviour. The goal is to respond quickly to any instances of employee theft, as passivity is sometimes misinterpreted by coworkers as tacit approval.
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