How Private Investigators Help Uncover Employee Theft
Businesses experience more than $50 billion in lost revenue every year because of employee theft. This type of loss is rampant in big box stores as well as smaller brick-and-mortar stores. Any kind of company is susceptible to criminal activity; however, small companies are taking the brunt of the damage.
Large chains have an entire department dedicated to loss prevention. Privately-owned stores and enterprises don’t have experts who can spot the signs of criminal activity. The responsibility is on the proprietor, and the reality of the situation is that their ability to solve crimes often falls short. A person might be an expert on corporate matters but terrible at assessing problems with staff.
Employers usually attempt to conduct investigations on their own. At times, they may ask another trusted employee to review the books; however, without expertise, these investigations often turn up nothing. In difficult cases, smaller stores have to outsource these cases to a Private Investigator.
How to Protect Your Business
A simple camera to outfit your place of business will go a long way in protecting your business. Properly placed, this little security system will catch an employee in the act of stealing and record every move. The closed-circuit recordings can supply the police or Private Investigator with all the proof necessary to charge someone with a crime.
It’s a good idea to make the security cameras part of an orientation for new employees and notify current staff of the security system. Some countries require businesses to inform customers and staff of surveillance cameras. Once they know that someone is watching via security gadgets, they are less likely to attempt shady behaviour.
Types of Employee Theft
Embezzling funds represents more than one-third of employee theft schemes. Usually, that means a little amount was stolen repeatedly over a long period. Fund theft is closely followed by check fraud, vendor fraud, and credit card fraud. Unfortunately, it happens to thousands of businesses every year. Employers put a lot of trust into those they hire, and sometimes that ends in detrimental consequences.
What to do If You Discover Employee Wrongdoing
If your tills don’t add up, or you have a general suspicion that your money isn’t going to the right places, call in an expert. Many companies hire Private Investigators to look into the problem. If you don’t want to call in the police and make a scene, a Private Investigator will come in and investigate the situation. If they find employees engaging in questionable behaviour, they’ll give you the option to press charges.
It devastates business owners to find out a long-time trusted employee was at the helm of these thefts. Figuring out how to hire associates that don’t steal is one of those things that comes with experience. It takes years of managing employees and at least one bad experience to figure out how to keep it from happening again.