Theft Prevention in the Workplace

A useful method of reducing theft in the workplace begins by conducting pre-employment screening of job applicants before they join the ranks and periodic, ongoing employee evaluations.
By Jenny Han, Guest Blogger –
Employee theft may not always be big scale, but the costs add up. With a suspected $50 billion lost annually, according to CNBC in 2017, it’s clear that businesses need to be prepared to deal with this problem and prevent it from occurring where possible.
There are many ways to put these measures in place and it can be difficult to know where to start when it comes to preventing theft. The following are a few basic policies you can put in place to help reduce workplace theft.
Creating a Culture of Ethics
Company culture truly impacts the way employees behave. If everyone is held accountable for their actions, no matter seniority, and the company promotes behaviors that encourage integrity and ethics, employees will begin to pick up on this and act accordingly.
Have a clear code of conduct in place for employees indicating that theft and fraud are prohibited, ensuring it is seen by the entire workforce. Conduct regular training to ensure all employees are aware of the types of theft and how to identify it, as well as provide a hotline for employees to anonymously provide tips if they observe anything.
Remember, culture trickles down from the top. If employees are told to do something but senior management act differently, the culture becomes one of “do what I say, not what I do” and that is not conducive to a pleasant work environment.
Monitor Inventory
Make sure you have systems in place for monitoring the company inventory. On a large scale this relates to the computers, printers, laptops etc. that employees use daily. If someone has a laptop at home for work purposes, make sure to track assets with serial numbers and locations.
If you provide your staff with office supplies, it’s worthwhile to control their use. This may seem extreme, but it might be possible an employee hoards materials leading to extra administrative costs. It may not save much right now, but the costs could really add up.
Monitor Sensitive Data Access
In terms of monitoring access, make sure to limit employee access to financial systems and sensitive company information. This creates traceability so you know exactly who was using what and when making it much easier to find your thief or fraudster.
Have a Plan of Action
Make a plan of action for if any incidents occur. Know how you will handle investigations and what the next steps would be. Bring your legal team in to ensure you follow the law.
The Do Not Do List
To avoid legal challenges, there are a few things to avoid if you suspect an employee of theft or fraud. First, do not detain or restrain employees to avoid claims of false imprisonment. Speak to the authorities and your lawyers to get specific advice on each situation, but beyond potentially leading to a counter claim.
Second, don’t publicize incidents to avoid defamation actions from the employee. These can be costly and vicious court battles that may not be worth the headache, depending on the level of theft.
Thirdly, before threatening prosecution, be certain about bringing charges. Consider the time and cost involved in bringing charges against the level of theft to ensure it is worth it.
Finally, never make accusations without proof. This is critical. Unless you have solid evidence, accusations can lead to damages to the business, relationships between the company and employees, potential slander suits, and the opportunity for thieves and fraudsters to cover their tracks by destroying evidence.
Take Action Before Starting
A useful method of reducing theft in the workplace begins by conducting pre-employment screening of job applicants before they join the ranks and periodic, ongoing employee evaluations.
Truth verification tools such as EyeDetect help organizations uncover past bad behaviors and identify current risks, where such tools are allowed by law. In some jurisdictions, the law prohibits the use of such tools. Be sure to check local statues before implementation.
Writer Jenny Han, Top Canadian Writers and Best Essay Writing Services, spends most of her time covering cybersecurity when not blogging for Coursework Writing Services.
Photo by /Kate Sade