13 Sep Should you be worried about employee theft?
Business owners, large or small, aim to hire trustworthy workers. While most employees are models of hard work and trustworthiness, companies must be aware that there are exceptions and theft will occur. Theft can have a significant impact on a small business and can even result in your business ultimately failing. So, while the answer to the question, “should you be worried about employee theft?” is a resounding YES, knowing the top three ways employee theft occurs can help you develop methods to combat the problem.
- 1. Cash: Employees can transfer money from cash registers into pockets when they handle sales or they can sneak cash out of open or unsecure safes. Employees have also been known to quote a purchase amount higher than the actual price of an item and then keep the difference at the point of sale. Once the employee has the cash, they simply walk out of your business with it at the end of their shift.
- 2. Merchandise: Loss of inventory or shrinkage from theft can happen on the sales floor with employees hiding merchandise in apron pockets or on shelves behind other items to pick up at the end of their shift. It also occurs before merchandise becomes available to the public. Employees will take items from warehouse shelves or newly arrived merchandise before it’s scanned into your inventory software.
- 3. Supplies: Some employees pocket small items such as pens, staplers, or small electronics slowly and repeatedly over time or take them on the day they quit before they officially resign. Others steal more expensive items such as furniture or equipment after hours or after they access your business without permission when it’s closed for the day.
In addition to training employees to recognize common behavior patterns of thieves, you can install security systems to monitor employee activity. If you need assistance in purchasing, installing, inspecting, or perfecting the security needs for your home or office, call the Horizon Alarms team at 800-467-1832 or send us a message and we’ll reach out to discuss all of your alarm needs.