How can we prevent Employee Theft? Dan Ribacoff says that we can take these steps in order to identify and prevent it.
The number one cause of loss of inventory for businesses across the world.
Employee theft is defined as the stealing or misuse of an employer’s assets without permission. Some of these common assets that employees can steal are:
Money: This is the most common asset that is stolen in most businesses.
Time: Getting paid for time that they were not working.
Information: Stealing ideas or even the blueprint for a product.
Supplies: Most common in taking office supplies or even food from restaurants.
Most of the time, employee theft can go on for multiple years before it is noticed. It is very common in all work places and no matter how big or how small, it eventually all adds up.
How can I prevent employee theft?
Our partners over at LegalScreen have shared some telling signs to spot employee theft:
This is what we are here for.
Performing background checks for all employees is the number one way to prevent this from happening. With these background checks, you can determine if the potential hire has a higher risk of stealing from you, in which case they will not be hired. These background checks are very simple and very important to a business. A very simple process can go a long way for your business in the long run.
Another way to prevent employee theft is by hiring a Private Investigator. This will show your employees and potential employees how serious you are. It gives the employees a zero tolerance policy. If you suspect theft or fraud within your company, have the Private Investigator get to the bottom of it, one less task for you as a manager to worry about.
Private Investigators are commonly used to conduct surveillance on potential suspects, perform audits of security and operational procedures, and conduct computer forensics on company owned equipment.