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Employee theft can lead to financial loss and time-consuming legal issues for your company. Prevention is always better than restitution for the damage caused. That is why many companies rely on devices like security cameras and more complex surveillance systems to secure their businesses.
Check out these security devices at All Security Equipment. ASE has a wide selection of access control and software systems trusted by millions of users worldwide.
What Is Employee Theft?
Employee theft is the unauthorized use of company resources. It isn’t just about physical stealing but also comes in different forms, such as:
- Misuse of assets
- Skimming, pocketing money, or theft of cash
- Overcharging customers
- Employee payroll theft
- Theft of services
- Inventory theft
Grave acts include embezzlement, accounting fraud, document falsification, intellectual property theft, and data theft. Employees doing non-related work during working hours are aptly committing time theft.
The company will suffer a severe financial and reputational blow if employee theft is left unresolved. At worst, it could lead to bankruptcy and put sensitive company data and client information at risk. All forms of thievery are difficult to prove and solve without a security monitoring system to validate suspicions.
All Security Equipment backs every business with security systems designed to protect the company from theft, whether it comes from internal or external sources. Video surveillance, for example, provides solid evidence even in the absence of witnesses. The mere knowledge of its presence is sometimes enough to deter employees from engaging in illegal activities inside the company.
Employee Theft Prevention
As a business owner, you need to implement stringent controls to prevent workplace employee theft.
Here are some ways to prevent office theft:
1. Establish Workplace Theft Policy and Ethics
A well-defined workplace policy guides employee behavior. Companies should draft a written employee theft prevention policy and workplace ethics document, or compile them in an employee handbook.
Include confidentiality agreements to cover data and information and retain their exclusivity after employment termination. Outline the sanctions and legal actions in the event of a breach. The workplace theft policy must be communicated and understood by everyone involved.
2. Separate Duties
Do not entrust the company's financial, inventory, and information control to a single person. Allocate jobs and responsibilities to reduce autonomy and promote proper reporting and auditing to prevent internal theft.
Transactions must require multiple signatures, particularly if they involve financial disbursements. Additionally, staff management must rotate the tasks within the organization periodically. It prevents employees from having sole control over a system.
3. Restrict Access
Areas with important assets, high-value inventories, and sensitive information must be limited to authorized employees. Reduce employee theft by installing a door access system and safety vaults that allow access only to verified credentials.
Door access control systems grant employees access solely to the specific areas necessary for their responsibilities.
4. Install Security and Surveillance Systems
Leveraging technology is a straightforward way to stop employee theft. It enables remote day-to-day monitoring of all activities and transactions.
Security and surveillance systems offer credible data that may be used as legal and binding evidence when necessary.
The security system may include:
- Security cameras and CCTV, such as PTZ and fixed security cameras, provide 24/7 monitoring. Install these in strategic areas within the establishment, paying attention to where theft is most likely to occur.
- Access control systems limit access to specific areas. Admittance to restricted areas may require a PIN, keycard, fob, biometric, or remote and smart mobile credential.
- Alarm systems trigger an alarm in the event of burglary or unauthorized entry. Invest in alarm systems that notify you or a service provider of the breach in real-time.
- Automatic plate recognition (APR) tracks the coming and going of vehicles to help secure your assets. Camera systems for fleet businesses are also important in keeping track of fleet vehicles.
Please note: The law requires that employees be aware that they are being observed. Inform employees about surveillance, such as security cameras, to avoid issues with privacy invasion.
5. Background Check Employee
Background checking an employee is crucial to hiring; human resources and management should not disregard it. A background check verifies qualifications, work ethics, and past disciplinary actions while identifying problematic behaviors.
Background investigations help inform decision-making and mitigate risk during the hiring process. They enable companies to avoid untrustworthy job candidates who may only become a potential liability.
Background checks involve investigating a person's criminal record and employment history, and contacting references and previous employers to verify their character.
6. Provide Employee Support
Sometimes, employees resort to stealing due to dire financial needs or resentment of the company's ongoing practices. One way to prevent theft in the workplace is to provide financial and moral assistance to employees.
Offer employee health insurance, improve employee services, support employee training programs, and cultivate a positive working culture. Empower your employees; they will become more collaborative and committed to the work and avoid time theft.
Ensure that ethical standards are observed by setting a good example as an employer.
7. Implement Strong Data Protection
Set up a robust access control system using hardware, software, and firewalls to protect sensitive information. Restrict data access, encrypt important information, protect passwords, and back up data to the cloud.
Regulating user access and monitoring network activities can prevent employee data theft. Avoid using shared accounts and only provide passwords to employees when specific information is required for them to do their jobs.
Prevent Employee Theft With ASE
All Security Equipment helps strengthen every business's defense against the different types of employee theft. Choose from our selection of access controllers, safes, locks, and security cameras to keep and monitor the workplace.
Contact us today for robust security systems that improve workplace culture and productivity.
For bulk orders, sign up for our business account to take advantage of special discounts.
