When you think about threats to your business, outside intruders are likely the first problem that comes to mind. While burglars and robbers are a legitimate worry, there’s another risk with which every business owner should familiarize themselves. Employee theft costs businesses $50 billion annually, and nearly 1/4th of small businesses have had their employees steal from them. Knowing how to stop employee theft can save you money and lessen your business’s chance of being targeted.
In a perfect world, team members wouldn’t take advantage of the trust that their employers put in them. But in reality, employees don’t always prioritize a company’s best interests. When your staff can access cash, valuable equipment, or other expensive materials, they may be tempted to steal from the company. Thankfully, you can implement prevention methods to strengthen your security.
1. Conduct Background Checks
It would be best to consider conducting a background check before extending a formal offer to a prospective team member. There’s a chance they’ve stolen and gotten away with it before, so they don’t have a criminal record. But if they have been convicted of a crime, it may be a sign they aren’t a right fit for your company.
2. Perform Regular Audits
Are you aware of how the money at your company is being spent? Do you have detailed inventory lists of the equipment and materials on hand? If not, it’s easy for theft to fall through the cracks. When you’re considering how to stop employee theft, you must prioritize organization. Staying on top of things with audits is one way to protect your firm.
3. Get To Know Your Team
Employees who feel valued are less likely to take advantage of your kindness and to respect their workplace. Whether through team-building activities, regular one-on-one meetings, or constructive performance reviews, having employees committed to your company’s mission can help reduce the theft risk.
4. Install Surveillance Systems
No matter how many steps you take to be safe, you can’t stop an employee who is determined to steal from you. They will exploit vulnerabilities and violate trust if they are set on committing a crime. However, a surveillance system that includes security cameras can help prevent employee theft, especially if workers know they’re being recorded. Besides serving as a mitigation measure, cameras can help you determine who is responsible when theft occurs.
Employee theft is a problem that many businesses will deal with at one point or another, and it can have devastating financial impacts for businesses of all sizes. While there’s no foolproof way to stop workers from stealing, there are measures that can make it less likely. If you’re searching for a Tampa Bay-based security company, look no further than Integrated Security Consultants. You don’t have to deal with employee theft on your own. Our firm specializes in CCTV cameras, access control systems, monitoring, and security cameras. We’ll create a detailed, personalized security strategy to help keep your business safe from harm. Call us at 813-254-0033 or contact us online for a free quote.