July’s Commercial Security Tip: Keep Employee Theft Out of Business

One out of every forty employees will get caught stealing from the company that pays them. That means, over the life of your business, you will almost certainly hire your fair share of thieves, perhaps without ever knowing who was who. To make things worse, employees steal an average of five times more than shoplifters, on a case by case basis. So what can you do to protect yourself from wolves in the flock?

1. Use video surveillance. And do not be sneaky about it. Video cameras serve as both a deterrent and a means of detection. Statistically, they can reduce employee theft by more than half, and they can help you recover what you’ve lost by pinpointing the culprit.

2. Schedule workers in pairs. There should always be two employees present for voids, refunds, opening, and closing times. Avoid scheduling pairs who are close friends, as they may be more likely to cover for each other after one of them starts skimming.

3. Reward informants. Make it easy for employees who witness a theft or attempted theft to tip you off anonymously. You can use a locked comment box, or a separate email account. Make it plain to everyone that you intend to reward productive tips with cash or other incentives.

One of the best ways to prevent theft is to create a happy, satisfying work environment, where staff feel appreciated and adequately paid. Employees who know you and like you are much less likely to do you wrong.

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