Unfortunately, employee theft is a common problem. The Globe and Mail reports that nearly 26% of Canadian small and medium-sized businesses lost revenue due to employee theft. This widespread problem has dire consequences. However, with proper anti-theft strategies, you can protect your company from employee theft. We will provide an overview of successful strategies you can use to protect your business. You can adapt these tactics to meet your individual business' needs.
Hire Trustworthy Employees
Your first line of defense against employee theft is to carefully select your employees. You should screen your potential hires to ensure they don't have a background in theft. The following tips can make your screening process successful.
Make sure you actually contact references. Many business owners don't take the time to review their employee's full history before they hire them.
Conduct background checks on employees. Follow up with supervisors who aren't listed on their employment form or ask interview questions about why they left their previous work. However, make sure you respect employee rights and follow laws governing background checks.
Use Internal Controls
A lot of theft happens in the moment. Often an employee will act impulsively and steal an item or money when they perceive an opportunity. Internal rules and processes for handling merchandise and money deny these opportunists possible chances to steal.
Create Effective Security
As the final line of defense, commercial security systems deter theft or catch it as it develops. Security protocols and security systems make it clear to potential perpetrators that they can be caught. They also provide evidence just in case you need to press charges or fire an employee. Reduce employee theft with these security systems and tactics:
Install security cameras in strategic places, like off-loading and on-loading zones or above cash registers. Use both open and secret cameras. Often cameras cause your employees to think twice before they steal. However, make sure perpetrators can't make out blind spots, as they will take advantage of them.
With proper anti-theft strategies and security protocols, you can reduce employee theft in your business. Contact BABB SECURITY in St. John’s, Newfoundland today to learn more about commercial security systems to keep your business safe. 709‑753‑7150