If you have employees and run a business in Texas, chances are good that they’re stealing from you.
Statistics show that three out of four employees steal from the workplace and many steal repeatedly.
The simple reason for this happens is that most employee thieves don’t get caught!
Most business owners ignore the signs of employee theft. They believe it is something that happens to someone else. After all, their employees are honest, like family.
I’m sorry to say that the longer you ignore reality, the greater your losses will become.
The National Restaurant Association estimates that internal theft accounts for about 4% of total sales, a truly astonishing number. Forty thousand dollars lost on a $1,000,000 in sales. What could you do with that extra $40,000?
So, do you have an employee theft problem? If you’ve read this far, you probably do. Here are six signs to look for:
- Have materials costs suddenly gone up? Compare what you are purchasing with what you are selling. If trended product and material costs suddenly go up, check to see if they coincide with a new event, like hiring someone new, a new work schedule or promoting someone. If costs suddenly go down, see who has been away from work.
- Are cash receipts out of balance? If so, this can be a strong sign of skimming.
- Do customers tell you that employees are stealing? If customers tell you there is a problem, believe them! Vigorously investigate to find out. Make sure your customers get receipts with each transaction. If your customers are not getting receipts for their purchases, you could have a theft problem.
- Other employees telling you that someone is stealing. Your employees should understand the impacts that stealing has on their wages and your business. You should encourage other employees to report internal theft. Give them an anonymous means of providing you information.
- Do repeat customers complain that prices were inconsistent? There’s a restaurant my family used to eat at regularly. We ordered the same thing every time, and were charged three different prices by three different people. Dishonest employees may overcharge customers and keep the difference.
- What are your instincts telling you? They’re often a good clue. Is the employee living beyond their means? Are they insistent about keeping the same work hours and routines? If it doesn’t feel right, follow up to find out.
There are a variety of ways you can stop an employee theft problem. One of the most effective ways in Texas is using security camera surveillance systems. We help Texas businesses with this technology. Please call us at (855) 693-4003 for a free onsite survey and price quote.
