How do you handle an employee who steals?

The Next Steps: How to Handle Employee Theft

  1. Ensure the employee no longer has physical, electronic access, or financial access.
  2. Investigate the theft and the employee to determine the extent of the damage.
  3. Follow your company’s disciplinary process.
  4. Report the employee’s theft to the police and your insurance company.

What can managers do to control employee theft?

10 steps to help prevent employee theft

  • 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 to do if you suspect an employee is stealing UK?

Once you’re absolutely convinced you know which member of staff is stealing from you, it’s then time to confront them. The simplest approach is to take them to one side and explain to them what you’ve done and why you’ve done it, detailing your findings.

Why employees steal from their employers?

Some employees steal simply because the opportunity is there. Others may feel wronged by their employer in some way and steal as a form of retaliation. Still others may steal because they believe the theft to be harmless because their employer has insurance against theft.

How do employees steal from their employers?

The five most common ways employee theft occurs are petty theft, data theft, cash larceny, skimming fraud and fraudulent disbursements.

What are the consequences of employee theft?

The consequences of employee theft are financial, operational and psychological and prone to affect more than just the staff member perpetrating the theft. Instituting a theft deterrent program can pay for itself in the revenue it can salvage.

Is employee theft an ethical issue?

Theft is one of the most common workplace ethics violations. Not only is it illegal, but it cuts into the organization’s bottom line hurting everyone from investors to the employees of a workplace. It’s crucial that every organization identify the areas of employee theft and ways to combat the problem.

How do you stop employees from stealing clients?

Consider asking new hires and existing employees to sign a non-solicitation agreement as a requirement of accepting a position with your company. These agreements state that an employee is not to contact any clients of your company for a certain period after retirement, quitting or dismissal.

How does employee theft affect other employees?

The environment on the job can change following a known case of employee theft. Management and employees often become tense and distrustful of one another. Work production might slow as employees fretting over the incident find it difficult to concentrate on the tasks before them.

How do you minimize employees temptation to steal?

To dissuade employees from theft, consider the following tips:

  1. Restrict Access To Assets.
  2. Invest in Surveillance and Security.
  3. Conduct Risk Assessments and Train Employees.
  4. Consider Inventory Tracking Software.
  5. Reassess Your Hiring Practices.
  6. Set Up an Anonymous Tip Line.
  7. Monitor Employee Breaks and Tasks.

What percentage of employees steal from their employers?

Is your company a den of thieves? 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.

Can you fire an employee for theft?

Theft is viewed by the courts as a serious disciplinary offence and normally justifies dismissal at first instance regardless of the value of the property involved.

How does employee theft affect businesses?

Operational Risks. The damage done by employee theft is the cause of nearly a third of business bankruptcies in the U.S. To cover the losses caused by employee theft, a company may have to lower payroll by releasing employees, delaying key personnel promotions, and putting company expansion plans on hold.

How common is employee time theft?

In fact, one of the biggest challenges of optimizing employee time all boils down to time theft. The American Payroll Association (APA) found that 75% of businesses in the United States are affected by time theft every year. Additionally, this has lead to productivity losses of $400 billion annually as well.

What is considered stealing at work?

Employees may steal large amounts of money, workplace supplies, equipment or intellectual-property. Just as serious are employees who steal by completing inaccurate timesheets, claiming reimbursement for items not purchased, fraudulently transferring funds or misusing a corporate credit card, cheques or taxi vouchers.

What happens if you get caught stealing at work?

The court can charge you with a misdemeanor or felony depending on the amount of money taken. You may also face additional penalties and fines for subsequent charges. If you stole property valued at less than $2,000, the court will likely charge you with a misdemeanor.