What is the Impact of Employee Theft?
When hiring new employees for your small business, internal theft is probably the last concern on your mind. Unfortunately, employee theft is so common that 95 percent of businesses have experienced it.
Regardless of whether the theft is small or on a grand scale, your untrustworthy employee’s actions have an impact on your business. Find out how theft can harm your industrial progress and how you can reduce the threat of internal robbery.
What is Employee Theft?
Employee theft isn’t just regulated to stealing physical products or pulling money from the cash register. Modern employee theft is that, but can also take a more nuanced approach that flies under the radar for many unsuspecting employers.
Employee theft can include the following issues:
- Using the company credit card and expense account for personal use
- Theft of office supplies
- Corporate intelligence theft
- Overtime or hours claimed that were never done
How Does Employee Theft Harm a Small Business?
Even the “smaller” theft like stealing office supplies can tear away at a business’ success. Here are some of the biggest reasons why so many employees should keep a watchful eye out when issues begin to arise.
Your Business’ Finances Suffer
When an employee steals something from the company, the biggest result is that finances and the budget are harmed. Things like stolen supplies and services all have to be replaced.
Most small businesses run on a tight budget and the purchase and ordering of goods and office supplies is on a strict schedule. When an employee breaks the trust of an employer and steals, it can leave a business in a tight financial position that could even lead to bankruptcy.
Morale is Shattered
Employers tend to want to trust the employees they hire to run their business. However, when theft occurs, trust is broken and the general morale of the entire staff can be driven into the ground.
Bosses become overbearing, honest employees feel untrusted, and in general, the mood in your company becomes sour and can lead to cutbacks or great employees quitting.
Daily Operations can Grind to a Halt
When both of the former impacts collide, even the average day of productivity can fail. When this happens even occasionally, a business can quickly fall behind the competition and eventually has to close its doors.
How Can a Security Upgrade Prevent Employee Theft?
While employee theft is definitely a disheartening experience, it’s important that business owners stay on top of potential threats. Security system installations or a security upgrade can help prevent employee theft on both a small and larger scale.
At The Security Center, Inc. we specialize in helping small businesses protect themselves with affordable, reliable security solutions that help keep their doors open.
Some of the services we provide include the following:
- Security camera installation
- Security camera upgrades
- 24/7 monitoring
- Access control installation
- Security equipment maintenance, and more!
Secure Your Small Business with The Security Center, Inc.
Don’t let employee theft bring your business to its knees. Reach out to The Security Center, Inc. to get proper security in place and prevent internal mishaps before they become a real problem.
Contact us today to learn more about our security services in your area.Back to "The Security Center, Inc. Blog"