Table of Contents
What are the reasons for theft?
People steal for different reasons:
- Greed – they are never satisfied with what they have; they always want more and when they cannot afford it, they resort to stealing.
- Hatred – there are those who find joy in making other people miserable.
- Ignorance – they take something that doesn’t belong to them, absentmindedly.
Why is workplace theft on the rise?
Poor pre-employment screening and a decline in supervision are contributing to the rise in employee theft incidents, new research shows. “These theft losses are stealing profits from retailers and driving retail prices higher for the consumer.”
How employees steal from the company?
The five most common ways employee theft occurs are petty theft, data theft, cash larceny, skimming fraud and fraudulent disbursements.
What is theft in the workplace?
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. …
How can theft be prevented in an organization?
Here are some things you can do:
- Know your employees. Be alert to key indicators of potential theft such as:
- Supervise employees closely.
- Use purchase orders.
- Control cash receipts.
- Use informal audits.
- Install computer security measures.
- Track your business checks.
- Manage inventory and use security systems.
Who is responsible theft?
Who are liable for theft. – Theft is committed by any person who, with intent to gain but without violence against or intimidation of persons nor force upon things, shall take personal property of another without the latter’s consent.
Why is employee theft important?
Employees steal for a variety of reasons, such as feeling that they have been wronged by their employer, or that they are “owed” by the employer, as a form of retaliation or because an opportunity presents itself. The loss can create major financial repercussions for businesses.
Why do employees steal at work?
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 can we prevent theft?
Find a buddy.
- Find a buddy. Whenever possible, don’t walk alone.
- When walking alone, skip using headphones or taking phone calls. Robbers often target people they notice are distracted or unaware of their surroundings.
- Don’t walk alone at night.
- Stay aware of your surroundings.
- Avoid unlit or deserted areas.
Why do employees steal from their workplace?
Employees may also steal to get revenge on their employers. Employees who suffer a pay cut, or who feel overworked and underpaid might seek to even the score with their employers by stealing time or money from the employer. Another reason employees steal is because it’s simply too tempting.
What to do if there is theft in the workplace?
Here are the steps you should follow to investigate theft in the workplace.
- Follow Company Policies.
- Assign an Investigator.
- Emphasize Confidentiality.
- Begin the Investigation ASAP.
- Gather Evidence, Conduct Interviews, and Trace Assets.
- Notify the Police.
- Discipline or Terminate the Employee.
- Recover Losses.
Why is theft a crime?
Theft is the criminal offence of dishonestly taking (commonly referred to as appropriating) someone else’s property both without their consent and with the intention of permanently depriving them of it.
Which is the leading cause of employee theft?
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.
What should be the consequences of employee theft?
The consequences should include the firing of the employee caught stealing and that employee should be prosecuted. Primarily the key to the success of these measures is that every employee be aware of the policy. These audits will reduce the risk of employee theft, because it will limit theft opportunity.
How many business bankruptcies are caused by 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. Employers should not count on other employees to report employee theft, unless they can put a system in place that keeps the “reporter” anonymous and/or a reward program is set up.
How does theft occur in the payroll department?
One method of theft in the payroll department involves creating a “ghost” employee on the payroll. This “ghost” doesn’t exist but the company will send checks that are collected by the “ghost’s” creator. This type of fraud is fairly simple and if uncontrolled can be a constant problem.