Employee Theftdiscovered in copy machines, employees in key positions who refuse to take time off, photo-copied documents used in lieu of originals have been signs of past theft and may be indications of existing dishonesty.Some other facts about employee theft are as follows:
A majority of employee theft goes undetected by supervisors and management.
Opportunity remains the leading cause of employee theft.
Employee theft is responsible for 33% of all business bankruptcies.
Other employees often ignore the theft and don’t do anything about it. Employersshould not count on other employees to report employee theft, unless they can puta system in place that keeps the "reporter" anonymous and/or a reward program isset up.
Employee theft is prevalent in every type of business.
Business owners must be aware of these facts in order to detect employee theft. Itis a common fact that most employers do not suspect their employees of theft.Another fact that is important for owners and supervisors to keep in mind is that themajority of the people who are stealing are those who have a close relationship with their boss.With reference to A Report to Business from the Baltimore County Police Department published in
April 2002 some interesting facts regarding Employee theft are illustrated below with the title,
“WHO DO YOU TRUST? BEWARE OF EMPLOYEE THEFT!”
Let's play true or false based on a study done by the Department of Commerce and theAmerican Management Association
1.Most theft is caused by non-employees.
Quite the opposite. According toJohn Case, a security management consultant, 95 percent of all businesses areaffected and hurt by employee theft.2.Well-paid employees or senior employees are trustworthy, loyal and don't steal.
Oftentimes these employees are the most dangerous because they takeadvantage of the trust that has been placed in them. These employees areopportunists, that is they steal when the opportunity is right and not always for financial reasons. They feel little remorse because they believe that insurance willtake care of the loss. Or maybe an individual feels they deserve it because they arenot paid as much as they think they are worth.3.Honest employees can be counted on to report employee theft.
. Even honestemployees may feel strange about reporting on a fellow employee.4.Employee theft is easy to spot.
Depending on how vigilant you are.Management must keep track of inventory. If merchandise is found near a dumpster or exit, chances are it didn't get up and walk. Someone had to have put it there. If you notice sensitive paperwork in a copier or copies used instead of originals, that isalso a sign that something may be wrong. Don't delay - check out these situationsimmediately.Institute of Management Studies, University of Peshawar.3