How To Prevent Employee Theft In Small Businesses?

30 October of 2015

Almost all types and sizes of businesses suffer from some form of employee theft. Workplace theft can take place in many forms and money is not the most widespread concern. Small business owners and managers are so much occupied with the processes that most of them are unable to notice stealing of supplies. The prevalence of employee theft has been well recorded in a survey conducted by Data Label.

Stunning Findings from Survey

According to a survey conducted by Data Label, over 20% of the subjects admitted that they had stolen from their workplace at one time or the other. The survey covered almost 2,000 adult employees at different levels.

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Given this high rate, it becomes evident how much your business can save by curbing this silent menace that keeps chipping away on your profits. The following tips should help your organization in preventing and controlling employee theft.

Implement a Company-wide Policy

Creating a policy and implementing it will put a certain amount of fear in the minds of your employees. Make sure the policy covers all types of actions that can be termed Stealing in Small Business. This should specifically include stealing inventory, office supplies like stationery, and cash.

The policies should be created in writing and a copy should be provided to all the employees. Create stringent penalties for any kind of theft, even legal action. In most cases creating the policies will themselves put some fear into the minds of most employees.

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Be Wary of Certain Types of Employees

Almost every office will have employees who like to work after hours without pay. Even changes in employee behavior could be signs that they may be up to something. Keep an eye out for these ‘red flags’ and if required investigate the actions of such workers.

Surprise Audits

Keep stock of all the supplies used in your organization. Besides the routine audits, you should also conduct surprise audits. They will not only help you identify any shortfalls in counting, they will also give your employees a clear message that you are serious about Stealing in Small Business. The surprise checks should be conducted by a different supervisor or manager. This will help eliminate any chances of biased reporting.

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Running a business can be a challenge in itself. While you are trying to build new business and grow your company, the last thing you want is your employees pilfering away on your supplies and raw materials. So follow these strategies to prevent such employee actions in your organization.

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