According to a study by PWC and Retail Council of Canada in 2012, 33% of employees are responsible for theft in retail stores. That amounts to about $4 billion losses in a year. You don’t have to be running a retail business to have employee theft occurring at the office. You could be running an e-commerce business or even a service related business for employee theft to happen.
No matter how nice or trustworthy an employee seems, there is always a small chance that you’re being fooled. You need to take the right precautions to significantly reducing the chances of employee theft without comprising the trust of your employees.
How can you do that?
Simple enough – always ask for references from your employees and ensure you check them. Many businesses skip over checking a candidate’s reference, but this simple procedure will give you some insight before hiring him as an employee. You can learn how the potential employee performed in his last job and find out if his previous bosses had any problems or suspected theft.
However, the downside to candidate references is that you can easily be given a number to someone who just acts as his boss. You wouldn’t know the difference. This is why you need a good background check.
Thorough Background Checks
A thorough background check will ensure that your employees don’t have a criminal background. A security agency will run a fine tooth comb through your employee’s background without, off course, violating his rights. A good security agency will conduct such a fine check that even a parking violation won’t stay hidden.
Numbers do not lie and audits may not help you catch the employee who is stealing, but it at least makes you aware that products or equipment are being stolen.
Ensure you have a system for regular audits for products and equipments.
An account system in the office or store highlights who is responsible for what. For example, if you run a plumbing service and lend out tools to your employees, you need to have a hard accounting system so you know who is taking which tools.
A good account system creates a paper trail so you can identify the employee responsible for a particular piece of equipment.
A surveillance system is a must if you run a retail store. Everything is caught on camera from employee theft to customers shoplifting. Furthermore, you can access the video feed and go over it to confirm which particular employee is stealing.
A surveillance system gives you hard evidence that your employee cannot deny.
A camera won’t tell you that an employee is stealing, however, a security guard will. Furthermore, he will stop it. A security guard is a worker dedicated to ensuring the safety of your business and that includes theft.
Though it is not advisable as it violates the trust of your employees and could lead to job dissatisfaction, you can have employees checked when they exit the workplace. This is a very effective means to prevent employee theft.
All these steps discourage large theft operations that are often conducted with inside help. You also need a tailored security plan according to your business’s needs and requirements. GPS Security in Edmonton offers the best security solutions in the city and definitely should be contacted to help beef up your security and prevent employee thefts.