Employee Theft is a very serious issue facing business owners in the U.S. today. 1/3 of business failures are a result of employee theft, fraud or other employee crime. $600 billion is lost annually due to this type of theft. Only 10% of business owners are aware this is happening within their organization.
Why do employees steal?
* No Surveillance System in place: This is your always-on manager, that does not lie, is always watching and not afraid to let you know.
* Lack of Access Control: No way to know who is coming or going and when (also acts as time and attendance)
* Lack of company Loyalty: "The owner has enough, what about me?"
* Lack of Senior Management watching: "It is easy"
Top Tips to deter employee theft:
* Hiring: Do your due diligence, perform background checks and call references. Check the national database for employees accused of theft.
* Access Control: Limit the number of employees who have keys. Access control can be used on specific rooms as well as outer doors. This can also be used for time & attendance. Major losses often occur after hours and in limited access areas.
* Video Surveillance: This is your always-on manager that is never sick or on vacation, always watching, never lies and can be accessed from just about anywhere. Be sure to install camera's viewing the parking lot.
* Employee Reward Program: Encourage anonymous tips and reward the behavior.
* Stop by: When you are expected to be gone, show up unannounced.
* Exiting Basics: Keep exit door closed and alarmed. Only allow employees to enter and exit out of designated doorways. Have these monitored with camera's.
* Supervise your employees: When they know you are around, they are less likely to steal in front of you.