Again – Get Smarter About Employee Theft!
Why? Because a tightening economy means more of your employees will have their back against the wall and be willing to take desperate measures… employee theft is a crime of opportunity that is all-too-easy to take.
I know I probably sound like a broken record at this point (especially if you have read the string of blog entries over this last year), but costs continuing to escalate and spending continues to drop. This means it is virtually impossible to count on building the topline of your business – so, you must find ways to protect and build your bottomline.
One of the most direct ways to do this is to eliminate employee theft and shrinkage. Aggressively monitoring employees and integrating that with indicators of risk for workplace theft are a smart move in any economy – and even more so if you want to make it through these troubled times.
You need to tie these efforts to a fast-track feedback system that triggers closer investigation for hot spots/people that are discovered. Employees of concern must be managed through an appropriate HR process of employee theft investigation, confrontation, re-training, notification or immediate termination (depending on the data collected and severity of their actions).
Employee theft and shrinkage will continue to rise as employees grasp at ways to deal with personal economic challenges – and in many cases, attempts to maintain lifestyles beyond their earning levels.
For most of us, the thought of employees stealing is painful and/or infuriating. Infuriating is better place to be in as that is usually an emotion that fosters action. There are techniques you can implement – some of them yourself and some with the help of specialists in this area – that more than pay for themselves.
Unchecked employee theft typically spreads and creates a poisonous work environment. Nipping it in the bud and implementing a strong loss prevention program is something that you can control in these turbulent times.
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