Employee Theft – More Than We Know

When faced with unknown business shortages and losses, employee theft is often not on the initial list when owners seek answers.

Business owners and employers usually look at all the other possible causes for missing merchandise, property, or cash.  External theft, shoplifters, vendor shortages, bookkeeping or accounting errors, or almost any other imaginable reason is considered before turning an eye of suspicion toward a “valued and trusted” employee.

Internal theft is often left to go on unstopped for months or even years because of misplaced trust by an employee.  As a matter of fact, many cases of employee theft are only discovered when the guilty employee is away from his or her job for a period of more than a couple of days, and the replacement uncovers a situation such as an unusual check, or missing merchandise that the thief was always able to cover up when left alone without supervision or without ever having another employee check his work.  A policy of checks and balances and shared job responsibilities tend to deter large thefts by employees.

When considering employee theft, look at every way that assets can be appropriated by employees.  Think of salespeople, receiving, accounting and other office personnel.  How many ways are there that employees in different positions can get away with theft? Retail business owners frequently turn to qualified experts, loss prevention consultants.  Based on years of experience and practical application, a loss prevention agent will efficiently assess vulnerabilities and offer solid suggestions and solutions to assist the business owner in eliminating the conditions that allow internal theft to occur.

A loss prevention agent is also useful when the storeowner suspects that there is a n employee on payroll who is stealing from the business – in effect from the owner.  A loss prevention agent can then be contacted and conduct an internal theft investigation. The loss prevention agent can assess the situation with an investigator’s eye, and remain totally objective as he develops facts and conducts interviews with the staff.  A skilled interviewer will draw definitive conclusions about any theft involvement of employees.  Emotion will not be a factor as the results are delivered to the owner, who will then make the appropriate decisions for the benefit of his business.

Employee theft is a national problem that comes to light locally all too often.

For advice on employee theft, call loss prevention consultants at 770-426-0547 or click here for more information.