Theft in the Workplace

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If a business is to be free of employee theft, it is going to be crucial to be aware that prevention is better than a cure. A company needs to realize where its weaknesses lie and needs to be willing to fix these problems, before the company loses hard earned revenue. The first line of attack would be to make sure that all new hires pass a back ground check. This would alert the Human Resource Department if the employee had a criminal record, poor credit or other felony charges. Of course not all offenders are repeat offenders, but in today’s economic climate there are so many unemployed, a company has many candidates to choose from. This would increase the chance of having a more honest employee. Once the candidate is hired, it would be important to make sure that person receives a handbook, which outlines all codes of conduct and policies with regards to the company. Of course it would be important to stress the company’s stand on theft in the workplace, and make clear what the consequences would be. This will leave no room for interpretation on this policy, so there would be no excuse that the employee did not know what was deemed appropriate. Finally the company would be wise to update security measures. This would protect the company and employees. Employees not only steal from the company and the hand that feeds them, but from co-workers. A company needs to ensure that all areas of the building are covered by some sort of security program, and while sad, it’s best to have the opinion that no one is to be trusted. The company could hire a security consultant that can advise and install the appropriate security equipment, and make sure that the employees have a safe and secure place for their personal belongings. Making sure that all employees know that security measures are in place should go a long way in preventing theft in the workplace.

Theft in the workplace is a serious problem for any business that can financially destroy a business, result in the loss of employees and be a costly problem to fix.

If a company understands what constitutes company theft, they are going to be more prepared to battle it. Understanding why an employee steals is also very important. To be able to stop the theft you need to know what and who you are battling. Once a company recognizes who is stealing, they need to ask themselves why. They need to analyze the reason for the theft and then fix the problem. If they understand why employees are stealing, they are going to find an easier solution to the problem and save themselves time and trouble in the future. If theft in the workplace is not minimized or stopped, the company could be headed for financial disaster or even bankruptcy. The company will continue to lose money from theft and due to having a high turnover of staff. This results in having to spend money to train new recruits and reducing production by having less staff on the floor. Heightened security also adds a financial burden to the company, as not only have they lost money due to theft, but have to spend more money to protect them. Finally it is important for a company to realize that prevention is better than a cure, and they should be preventing theft before it has a chance to take place. By making sure that candidates pass background checks and employees know exactly what the company’s stance is on stealing, the company is doing its part to help prevent theft. If a company is prepared to increase its security measures, it would go a long way in reducing and potentially stopping theft in the workplace, and hopefully protect them from financial disaster.

References

Caron, Beesley (Dec 23rd, 2010). 6 Tips for Preventing Employee Theft and Fraud in the Workplace. U.S. Small Business Administration. Retrieved from http://www.sba.gov/community/blogs/community-blogs/small-business-matters/6-tips-preventing-employee-theft-and-fraud-wo

Shaddock, Dianne (July 2011). Employee Theft: Theft in the Workplace Statistics. Small Business Administration. Retrieved from http://www.zimbio.com/Small+Business+Administration/articles/FNQXO390Hab/Employee+Theft+Theft+Workplace+Statistics