How to prevent Employee theft: 4 tips for loss prevention
When the normal person thinks about theft from a business, the normal image is of breaking and entering in the night, and making off with millions in merchandise. Or, the image of a shoplifter furtively picking up a few dollars each time of merchandise and subtly making away with it. It would come as a shock then, to realise that the largest avenue of corporate theft is actually from employees. Theft of goods from US businesses by employees costs them $50 BILLION each year. If you’re looking for ways to reduce employee theft in addition to security guards in California, you’ve come to the right place!
Employee theft is definitely a big avenue of loss, but the issue of how to solve it comes with its own problems. Employee morale is a big one, as any measures that are too draconian will indicate a lack of trust in the employees as a whole, which will lead to reduced morale, and possibly an increased disregard for rules. Hence, any policies must look like they are for the benefit of all, not just to reduce theft. In this article, we will discuss some ways that you can reduce theft from employees easily and with minimum change to operations.
Ø Emphasize good record keeping
The cashier stealing occasionally at the till, or the factory worker who clocks in a little early, and clocks out a little late, both are players of the same game. And they both can be thwarted by a simple solution: Keeping better records. Getting serious about adopting a more stringent record keeping policy will not only heavily cut down on employee theft, but also have other benefits down the line.
Ø Hire Security Guards
Security guards in Orange county have reported this phenomenon consistently, and it is not going away any time soon. What’s the simplest way to prevent people stealing when no one is watching them? Have someone watching them at all times! No matter how many different policies and safeguards you implement, loopholes will always be found. Hiring a professional security firm covers some of those bases, and helps you manage loss prevention.
In fact, some firms have dedicated staff trained specifically for protection of goods, called asset protection(AP), or Loss Prevention(LP) officers. These are in addition to the usual security guards in California who are of course dedicated to other tasks as well.
Ø Install surveillance equipment
Even the best of security guards cannot be everywhere at once. You know what can? Cameras! CCTV cameras can be installed discreetly for universal coverage of the warehouse and sales floor, and with the addition of recording equipment can go back in the past to view crimes that have already taken place. This makes them an invaluable tool in the fight against thievery.
Ø Limit Access
When everyone in the organisation has access to all the areas, it can be difficult to determine the extent of their movements. Instead, zone out areas and only allow authorised personnel to enter areas they are required to by the jobs. This will make sure everyone goes only where they are supposed to be, and prevent opportunistic theft.
As you can see, with just a few simple steps taken in advance, loss prevention due to employee theft can easily be minimised. All it takes is thinking ahead, and trusting the right people to keep your employees under check.