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How to Reduce Employee Theft

Private security guards can do a lot to stop instances of theft from taking place by customers, but in many instances, theft comes from within. Employee theft can be a major problem that many businesses have to deal with, such as restaurants, bars, and convenience stores. Oftentimes, it can go on for many months or even years and is not caught until the financial damage has already been done.

 

How to Reduce Employee Theft

 

Here are some of the steps that a company can take to reduce employee theft:

 

Perform Background Checks

People deserve second chances, but one of the best indicators of future behavior is how they have acted in the past. That’s why it’s important to perform background checks before hiring an applicant to make sure that he or she does not have a history of theft. Making every effort to hire employees that seem of good character can lessen the chances of employee theft occurring.

 

Make Sure There’s an Extra Set of Eyes

Employee theft can occur at any point, but the two most common times are during opening hours or closing hours. In a retail business, for example, if there’s only one employee who is closing for the business day, there’s a greater possibility that theft can occur. In order to help prevent this, it’s recommended that at least two employees be present during opening and closing times, as well as when certain financial store transactions are conducted, such as voids and returns.

 

Have Visible Security Cameras

If an employee knows that he or she is always being watched, that employee will be less likely to commit theft due to the risk of being caught. Make sure that there are no major blind spots and that all of the necessary areas are covered, including storage rooms. Modern CCTV systems can store a tremendous amount of video, so if you feel as if a theft has occurred, you can easily go back and search through the video.

 

Develop Friendly Relations With Employees

Whether you’re the business owner or in a managerial position, it’s important to develop friendly professional relations with the employees that work for you or under you. Employees are less likely to steal from a business owner that demonstrates empathy and treats them with respect. For instance, if you notice an employee who seems highly stressed out, see if there’s anything that you can do. Oftentimes, the reason why employees steal is due to financial difficulties that they’re facing in their own personal lives.

 

Have a System in Place

Lastly, it’s also important to have a system in place in which all transaction inventories are always accounted for. Many of the digital database inventory and transaction systems available today, some of which are using cloud technology, are able to spot any discrepancies or unusual transactions immediately, which, in turn, will notify you to any potential theft that has occurred or is occurring.

 

First Security Services will be able to help you both prevent and spot any employee theft that’s occurring. Make sure to contact us today for your free consultation!