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How Are You Preventing Employee Theft?

How Are You Preventing Employee Theft?

How Are You Preventing Employee Theft?

Are you a  small business owner who has a physical location and hire employees? If you answered yes, how are you preventing employee theft? This can be an tricky area to manage and sometimes goes unmanaged! Employee theft accounts for a large number of business losses, bad reputation, negative press, and lawsuits.

I have an included a small list of strategies to help you manage this area:

Pre/Post background checks – You can save yourself time, money, and headaches by conducting a background check on candidates. Also, at least once or twice per year conduct post background checks. Be certain your hiring practices are strict!  The question, ” how are you preventing employee theft?” starts here.

Orientation – No matter what size your business, you should have ALL employees go through your orientation process. If you do not currently conduct orientation, now would be a good time to develop one. You would benefit by making your new associate aware of your policy/procedures.

Training – Make certain all employees are clear of their responsibilities, policy, and security procedures/practices.

Policy/Procedures – All policies/procedures must be documented so employees will know how you operate. Have employees sign an acknowledgement form of your policy/procedures as a condition for employment.

Cash and Debit/Credit Card – Have a well documented policy and procedure on how cash, debit/credit card transaction will be handled.

Employee Access – Limit employee access to data, merchandise, and funds. Track all keys, access codes, and internal activity.

Install Cameras – Install cameras in critical areas of your business focusing on areas such as the cash register, drive thru, safe, and exit doors. 

In the event you discover employee theft, contact local police, pursue criminal charges, and send a clear message to other employees that theft is unacceptable.

Are you uncertain how to report crimes and incidents to the police?  You are not alone! 

Many business owners owners know how to report typical crimes and how to make contact with the local authorities.

But what about the different types of incidents that can happen on the interior or exterior of your business.  Do you understand the risk of improperly releasing confidential documentation and video?

In a previous article, I share when and how to report business crimes.  Take advantage today by getting your free guide!   

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