What Are Some Steps That You Can Take To Minimize Employee Theft?

• Know your employees. Be alert to key indicators of potential theft such as: …
• Supervise employees closely. …
• Use purchase orders. …
• Control cash receipts. …
• Use informal audits. …
• Install computer security measures. …
• Track your business checks. …
• Manage inventory and use security systems.

What can be done to prevent theft?

• Find a buddy. Whenever possible, don’t walk alone. …
• When walking alone, skip using headphones or taking phone calls. Robbers often target people they notice are distracted or unaware of their surroundings.
• Don’t walk alone at night. …
• Stay aware of your surroundings. …
• Avoid unlit or deserted areas.

How can a business protect from employee theft?

1. Provide great customer service. …
2. Install a camera system. …
3. Keep track of inventory and investigate discrepancies. …
4. Be security conscious with deposits and cash registers. …
5. Require receipts for returns. …
6. Check references when hiring. …
7. Encourage the buddy system.

What to do with employees who steal?

1. Make sure your evidence is strong. …
2. You will probably want to terminate the employee immediately. …
3. Notify the police. …
4. Don’t deduct anything from the employee’s final paycheck.

How would you use employees to reduce theft by employees?

• Practice proper bookkeeping. …
• Monitor retail transactions. …
• Track inventory closely. …
• Count-in, count-out cash. …
• Review all petty cash. …
• Actively participate in the business. …
• Offer meals and discounts to deter theft and boost morale. …
• Watch and listen.

What is employee theft?

Employee theft is

a crime that costs U.S. businesses an estimated $50 billion each year

, according to Statistic Brain. More commonly known as embezzlement, it is the crime of an employee taking the personal property of the employer, which was entrusted to that employee.

How do you deal with theft at home?

1. Call the police. Obviously if the theft occurrs inside your home, the first thing you should do is make sure you are safe. …
2. Contact the insurance company. …
3. Get to know your neighborhood watch.
4. Protect yourself (and your belongings). …
5. Deal, breathe and move along.

What types of employee theft do you think are the most serious?

Data theft

is one of the most troubling types of employee theft. Not only can it put your company’s assets in danger, but may also compromise your clients’ and customers’ sensitive data.

Can an employee be dismissed for theft?

Should an employee be dismissed because of theft of monies belonging to the employer, the employee may, in most instances,

be summarily dismissed after following appropriate disciplinary procedures

. Unfortunately, this may not be the end of the employee’s misfortunes.

What is the punishment for employee theft?

Employee Theft or Embezzlement can be charged as a misdemeanor or a felony depending on the value of the property taken and the defendant’s prior criminal history. The punishment ranges from

six months in county jail to three years in state prison

. Anything you say can and will be used against you in a criminal case.

What happens if you steal money from your job?

The company you stole from

could charge you with gross misconduct and fire you immediately

. Or you could face suspension, without pay, while the company conducts an investigation, in which case you could still be terminated or face a major demotion or transfer. And yeah — you may also face criminal charges as well.

How can an employer prove theft?

While an employer ordinarily bears no burden of proof at trial, the jury will look for the employer to prove an accusation of

theft beyond a reasonable doubt

. … Juries demand that employers follow written procedures; failure to do so can also serve as evidence of pretext used to defeat summary judgment.

How common is employee theft?

Shockingly,

75% of employees admit to stealing at least once from their employer

. Whether it’s a result of entitlement or just general dishonesty, employee theft comes in many forms and at varying degrees.

What is it called when you steal from your employer?

Embezzlement

occurs when someone steals or misappropriates money or property from an employer, business partner, or another person who trusted the embezzler with the asset.

What are the motives for employee theft?

Need is one reason

individuals steal from their employers

, and while a need might be based on some particular hardship or change in income, it could also be motivated by an expensive addiction like drug use or gambling. Employees may also steal to get revenge on their employers.

How do you trick a burglar?

1. Gardening. Keep your lawn and garden tidy. …
2. Windowsills. Put some WD40 on your windowsills to make it harder for burglars to climb inside your home.
3. Keys. Install a deadlock and make sure burglars can see it on your front door. …
4. Dog barking. …
5. Lights, cameras and alarms. …
6. Valuables.