Many business owners find it hard to believe, but the majority of theft comes from employees. This fact may be disheartening, but it’s also useful in loss prevention and detection. There are many ways to trap these workers, but these are the easiest ways a business owner can catch an employee thief.
Installing Surveillance Cameras
One of the simplest and most common internal controls to prevent employee theft is the installation of surveillance cameras. Having video evidence will help prosecute thieves, but it also acts as a deterrent to prevent theft in the first place. Also, cameras can be a useful tool for ruling out employees when money or goods go missing.
Punishing Petty Theft
Many employers look the other way when employees take office supplies or other nominally valuable items. However, it’s important for business owners to hold firmly to a zero-tolerance stance when it comes to dishonesty or petty theft.
Watching for Cash Larceny
Another common way employees steal is through cash larceny. This crime occurs when employees take money from the company that has already been logged into the ledger in one way or another. Employee thieves often take money directly from the register till, so business owners must keep a close eye on employees whose cash drawers don’t reconcile or when register tapes have been altered.
Employee theft is a serious issue. Business owners who know what to watch for are better equipped to prevent, eliminate, and insure against it.