According to the US Chamber of Commerce, three out of four employees have stolen from their employers at least once. As a result, each year, companies lose millions of dollars. And, as the latest employee theft statistics suggest, these numbers are on the rise.
To protect your business from financial loss, take loss prevention seriously. Below, we key tips that can make a positive impact on your bottom line.
Incorporate a Thorough Employee Screening and Hiring Process
Though there is no foolproof screening process to weed out those who may steal from your business, you can develop a more rigorous hiring protocol to identify top-notch talent. If your company is not performing these activities already, consider implementing the following:
• Conduct more than one in-person interview
• Require at least three letters of reference
• Contact the references provided
• Perform background checks
• Run credit checks
• Ask candidates to take a drug test
Incorporate Policies That Deter Theft
A few simple policy changes and adjustments to your business’s everyday operations could make employee theft more difficult. Consider the following:
• Rotate Assignments. Change employee roles from time to time. This is especially helpful in retail. Rotating assignments help control and mitigate errors and theft and reduce the risk of collusion between co-workers.
• Require employees to use passwords to access computers and networks. Also, have employees change their passwords on a monthly basis. Employees should log off the computer whenever they leave their desk area.
• Keep duties separate. For example, an employee should not be in charge of both writing company checks and keeping the books.
• Support and encourage anonymous reporting. Employees should have the option to anonymously report violations of company policy, unusual behavior at the workplace, and other human resource issues.
Invest in a Security System
You may trust your employees with your property, but that doesn’t mean you can’t maintain an added level of control.
• Incorporate Access Control:
With a smart security system that assigns employees with unique codes or access keys, you’ll know when employees arrive to work and what areas of the business they access during what time of day. So, if something is missing from the stock room, you can look at logs to see which employees were in the stock room that day.
• Smart Video Surveillance:
Keep an eye on your business 24/7 and monitor employee behavior remotely via a security app on your smart device. It is a known fact that people change their behavior when they know they are being watched. Video surveillance makes employee theft less likely and catches any crime on tape. You can access your video surveillance system anywhere, anytime. Whether you’ve stepped out for a meeting or are traveling across the world, you’ll be in the know.
Employee theft can dramatically affect your business’s bottom line. Create strong loss prevention techniques and security protocols to help prevent incidents.
To learn more about the benefits of modern business security systems in Hampton Roads and northeastern North Carolina, visit Johns Brothers Security online or call to discuss your company’s needs at 1-800-242-9760.