According to a recent report, a whopping 43% of lost revenue is due to employee theft. That’s around $18 billion in loss every year. The retail industry is the hardest hit by employee theft but all industries suffer from some degree of it, whether it’s as petty as office supplies or as serious as embezzlement. There’s no way to completely eliminate it but there are things you can do to greatly reduce it.
To start, if you aren’t already, do through background checks on prospective new hires including reference checks. While it’s true most places won’t give details about previous employment, the answers to questions like “Would you hire X again?” can say a lot.Personality testing can be very helpful as well, as can simply paying attention to how interviewees answer the question, “Why did you leave your last position?” be sure to take in their non-verbal cues too-most people who are lying give that fact away in their body language. This can eliminate or at least sharply reduce your chances of hiring someone that turns out to be a thief. A good video surveillance system is also a must, including video analytics and access control. For example, a store room where spare computer equipment is kept shouldn’t be open to access by anyone except the IT employees responsible for setting them up and assigning them. Just knowing they are being monitored does a lot to discourage the temptation to steal.
We have provided some of New Jersey’s top companies with full and customizable security solutions to help them secure their assets, employees and property. Let us help you secure your company too. Regardless of your size or budget, we can design the perfect system, one that will do the job now and for years to come. Contact Us today for a quote!