3 Tips For Preventing Employee Theft
Whether the business has 10 or 10,000 employees, the risk of employee theft is present on some level. It is a good idea to be alert to crimes of all sizes, as employees may try to sneak small, inexpensive items or could attempt to embezzle large sums of money. Clear policies, adequate supervision and audits can help business owners prevent or spot issues before they become serious.
- Communicate Policies Clearly
Many business owners offer incentives to employees in the form of discounts or free items. The company policy should clearly outline what employees are and are not allowed to take. Make sure workers know that their actions may result in criminal prosecution. The threat of getting escorted to jail, needing to obtain Pennsylvania bail bonds and entering a plea in front of a judge can be a big deterrent.
- Supervise Staff Members
Just as the strategic placement of mirrors and cameras can help managers monitor customers, they can also deter employee theft. When employees know that they are being watched, they may be less likely to do something illegal due to the knowledge that they will probably be caught. A system that allows staff members to anonymously report instances of theft can be incredibly useful for businesses that have a lot of employees.
- Conduct Random Audits
Business owners usually take care to hire trustworthy employees to handle money. However, not every person who appears to be a good hire is actually honest. Randomly conducted audits can reveal discrepancies and reveal any instances of embezzlement. Consult with an outside accounting firm and have them audit the company at least once a year to ensure everything is correct.
While it may not be possible to prevent every single instance of employee theft, creating clear policies, monitoring employee activity and auditing the books can prevent many problems.