Are Your Employees Stealing from the Company? Identify Key Signs of Employee Theft
Employee theft comes in several different forms, depending on your business industry. The most common industries that experience employee theft are retail, hospitals, hotels/motels, and construction. According to a survey from The Interview Guys, the top two reasons employees justify stealing from their place of employment is because 24 percent do not think the company will notice, and 21 percent reported it was because they were underpaid.
So what does this mean exactly? This does not mean you should assume that every employee is a potential thief. Instead, it is crucial to be proactive and vigilant to maximize your business’s potential. We want to discuss how employee theft is not about taking a pen from the office but rather the significant profit loss that can cost a business thousands and even millions.
Employee Theft is Inventory Shrinkage Has Become a Growing Issue
Employee theft is one of the leading causes of inventory shrinkage and is something not to overlook. A sudden increase in marked damaged, lost, or defective items should raise a few red flags. Unfortunately, this is often a sign of employees stealing company inventory and claiming them as damaged by the supplier’s fault or even the customer.
[RELATED: 4 Main Causes of Retail Inventory Shrinkage]
There Are Changes in an Employee’s – or Employees’ – Behavior
Suppose an employee begins to work unusual hours with poor work performance, negative attitude in the workplace, or disappears for extended amounts of time. In that case, this could signify an employee is committing company theft. Even if you notice an employee quickly switching tabs or programs when you or another person walks by, you may have reason to be suspicious.
Please note, these are not standalone red flags of theft. You should also not treat your employees like thieves. These are merely the subtle signs of employees committing theft. However, you should also remain proactive and vigilant in the event theft does occur. Trust your gut feeling and investigate further if you suspect an employee is stealing from the company.
How Up to Date Is Your Security System and Software?
Controlled access, alarms systems, and functioning surveillance cameras can help minimize the threat of employee theft. Additionally, be sure passwords to your computer systems are secured and hard to guess.
For construction companies, project sites are the most common place where theft occurs. To minimize the threat, invest in secure fencing, security officers, and security cameras to mitigate loss. For a risk assessment of your commercial or construction property, CGA Solutions offers assessment investigation services to identify key risk factors that could put your business at risk
[RELATED: Business Security Risks That Companies Face]
Look Out for Employees Stealing from Your Customers and Clients Too
You should remain vigilant for employees stealing from the company and be on the lookout for employees stealing from your customers and clients. After all, your employees reflect the reputation of your company. Conducting audits on work – especially if you suspect suspicious behavior or have received complaints from customers – can help you get the answers you need.
CGA Solutions Conducts Risk Assessment and Theft Investigation Services for Businesses
Whether you have current concerns regarding employee theft or want to assess your company’s risk of an employee or organized theft, it’s best to get the experts involved. CGA Solutions conducts risk assessment and theft investigations for businesses throughout Georgia and South Carolina. For more information, contact us today to schedule a free, confidential consultation.