1. Conduct thorough background checks prior to hiring any employee.  Consider hiring a professional investigative firm to assist your efforts.
2. Speak with your accountant about business processes that minimize risk.  Areas to discuss include cash receipts, accounts payable, bank and investment deposits and transactions, credits, returns and refunds and inventory accounting procedures.
3. Spend time on the sales floor and outside your office.  Be visible and interact with employees.  This will help your business in many ways, including employee theft reduction.
4. Restrict access to select areas.  Access control systems are practical and affordable solutions to employee theft reduction.
5. Install security camera surveillance systems, especially in sensitive areas:  cash receipts, shipping and receiving, stockroom and warehouse, and employee time-clock/check in areas.

If you have any more questions about reducing your exposure to employee theft, contact one of the security specialists at Knight Security Systems of Texas.

An unfortunate truth most businesses face is that they not only have to protect their assets from thieves trying to get in, but also from those already inside. Employee theft and fraud is nothing new to the business world, and has been a hot topic of discussion among our customers, but according to a new report (CRISP report) issued by the ASIS Foundation the problem seems to be getting worse. Or, at least it is not improving.

The CRISP report estimates that between 40 and 50 percent of all business losses can be attributed to fraud in the work place. In the report, the author Read Hayes, a doctorate in criminology, states that the “misconduct” widely varies to include the usual theft based crimes along with such things as lack of production, chronic tardiness and/or falsifying of time records.

When asked what the cause is, Hayes points to two major factors; criminality (makeup of the individual) and work environment. Both of which should be manageable factors for businesses.

The first is a result of the predetermined nature of the individual and needs to be addressed with better pre-employment screening process by enhancing application screening and interviewing techniques.

The second, environment, is more up our ally and can be addressed by implementing the right security measures can go along way to improving your company’s work environment. Whether its video surveillance systems to deter theft/fraud, and keep things running efficiently, even when you aren’t there or access control systems that protect employees and sensitive areas while safeguarding valuable company assets, today’s security industry has a range of options available to your company.

So, if you are or have been on the receiving end of employee theft, you can be comforted in the fact you have options. And if you haven’t been subject to the internal threat to your company’s bottom line, now may be the time to take a proactive approach and look into some of the options listed above. Either way, we hope our readers will look to Knight Security for their security needs.