How to Prevent Employee Theft

Employee theft is the most serious and concerning problem that needs to be overlooked and prevented in most of the small scale and big organizations. This problem can create some serious issues in the organizations. It is necessary that the companies enforce strict rules and make their employees abide these rules. To prevent instances of these issues, employers need to know how to prevent employee theft.

Tips to prevent employee theft:

Know the history of the employee:

  • While hiring an employee it is essential that employers know the background of the employee properly.
  • Employer should carryout past employment verification before appointing any employee in his organization.
  • He should also conduct drug-screening tests for the employer and criminal conviction checks.
  • If the employee has provided any references, it is necessary that the employers verify the references by calling them. If references are not provided, you must ask them to provide the same.

Conduct surprise audits:

  • Surprise audits will not give time for the employees to alter the information they have with them.
  • If they know that auditors are coming, they get enough time to change the information with them and the fraud will be undetected.
  • The management should be keen about the work that their employees are doing and what kind of work is assigned to which employee.

High security within the organization:

  • Employers should spend some amount on implementing high security within the company.
  • Advanced technologies that guarantee security of the resources with the organization should be implemented with the company.
  • All the departments within the organization should be secured well and if necessary cameras and sensors should be installed within the company to detect any suspicious activities within the organization.

Minimize pressure:

  • Proper financial help should be provided for the employees who are in need.
  • It is hard for the employers to know personal financial problems of the employees, but it is the employer’s responsibility to have an appropriate salary structure.
  • Monetary help should be provided to the employees in the form of awards, bonus and incentives.
  • This will help in keeping the employees happy and satisfied as you are looking at their needs and satisfying them.

Conducting support programs:

  • It is observed that employees who are indulged into gambling and use of drugs are most of the times involved into such activities.
  • Employers should conduct support programs to help such employees.
  • These support programs are helpful in assisting the employees for drug and alcohol.
  • They also understand and counsel the employees in marital problems, financial problems and many other problems, which will increase the risk of an employee to get involved in such activities.

Rewards:

  • Companies should implement a policy that will help in rewarding the employees who will report criminal activities occurring in the organization.
  • This will encourage the employees to report criminal activities being carried out in the organization.
  • These rewards should be given in the form of fixed fees or in the form of percentage of the recovery.

Separate the duties wisely:

  • A single employee should not be given all the duties. There should be someone over each and every employee who will monitor their work and reports.
  • No employee should be given the responsibility of recording and process the transaction himself.
  • It will be easy for him to make adjustments in the records and swindle.

Following the suggestions given above, it will be easy for you to prevent employee theft and ensure safety of the expensive assets of your organization.


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  2. How to Prevent Identity Theft
  3. How to Evaluate Employee
  4. How to Evaluate Employee Performance
  5. How to Prevent Discrimination

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