EMPLOYEES AND THEFT
No matter how large or small a business is, owners and managers are faced with problems on a daily basis. These problems can limit the vision of
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business owners and blind them to the “bigger picture”. Issues that are costing the company money can get lost in daily activity.
On average, for every £1 stolen a business much sell £10 of goods to recoup the loss. This statistic should be a warning to all business owners. Take time out of the daily grind and organise a rigorous security plan that addresses all issues including employee theft.
Monitoring solutions tend to focus on crimes committed by “outsiders” such as shoplifters. This is not always the best use of security resources. It is estimated that in the US that 46% of a company’s financial losses are the result of employee theft and there is no evidence to suggest that the figures are any different in the UK.
Employees have ample opportunities to steal from their employer and in the next series of posts we will be looking at the reasons why employees steal and the areas of most vulnerability in a business.