While employers are still struggling to find model employees, things do not always go as planned, and new employees may even commit robberies in the company that hired them. The risk of robbery by an employee can, however, be managed through a prevention strategy that consists of being selective in the hiring process and ensuring that employees understand the consequences of their actions.
Employees who commit robberies can have easy access to money or merchandise, feel that their pay is not appropriate, or have financial difficulties. The elimination of any of these factors, especially the opportunity (as the risk of being caught increases, the probability of theft decreases), will help reduce losses.
- Set up an employee screening program that includes checking the references provided. Depending on the vacancy, criminal record and solvency checks may also be desirable.
- Write security guidelines that outline the company’s response policy in the event of theft by an employee. Provide a copy of the guidelines to all employees and require them to sign an acknowledgment of receipt confirming that they have understood them.
- Develop a human resources program to strengthen employee loyalty.
- Make sure that the company’s goods and property are not easy to steal.
- Establish control procedures for petty cash payments, bank deposits, withdrawals, check issuance, payroll, bank reconciliations, and bill payments.
- Divide responsibilities and functions so that no employee is responsible for all steps of the same financial transaction, and organize tasks so that the work of any employee is verified by another employee.
- Establish a schedule of regular and random inventory checks.
- Monitor the scene using a closed circuit television (CCTV) monitoring system. (Be sure to keep in mind any legal requirements for privacy protection.)
- Check that all goods received or to be shipped match invoices or shipping documents.
Adopting these best practices is a good way to discourage theft and protect your profits. tweet