Many people are unaware that there are many different forms of employee theft. It has been found that employees often “steal” from the company by falsifying their time records and not being productive while on the clock. Theft of supplies is another heavy cost to a business. Whether it be a restaurant and employees are taking food without paying, or an office where employees are taking the office supplies; these costs add up significantly. In more serious circumstances, the theft is strictly monetary.
This can be combated without having to micro-manage. Firstly, pre-screening employees with background checks allows you to ensure that you are not hiring those with criminal pasts. Immediately lessening chances of theft or being taken advantage of. Secondly, you can profile those you hire, allowing the management to gain an understanding of this person’s tendencies and personality style, and especially which factors might lower their morale to the point of passive aggression against the company, potentially in the form of theft.
Small to medium sized companies especially cannot afford the cost of theft and lost productivity, the small price up front is well worth it in the end. It is very important that management becomes aware of how severe the consequences of hiring untrustworthy employees can be. “US Chamber of Commerce figures show that employee theft is responsible for around 30% of failed small businesses.” Get to know your employees background before you entrust them in your company.
We suggest the following solutions for preventing employee theft:
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