Is Employee Theft Hurting Your Bottom Line?
You’re sitting in the lunchroom on a Friday afternoon with a group of your employees. Everyone’s laughing and talking about their upcoming weekend plans. You’re happy to be a part of the conversation with your employees and feel pretty good about your team. You’d never suspect that one of your employees has a shiny new tablet in their bag that they just took from a new shipment that arrived at your business earlier that day.
If your bottom line is taking a hit you may have to consider the cost of employee theft as part of the reason for your profit loss. Businesses across the nation are faced with the costly issue of employee theft. According to research findings from Statistic Brain, 75% of employees have stolen once from their employer.1And statistics from the National Retail Security Survey 2017 reveal that employee theft accounts for 30% of a retailer’s total shrinkage.2
As an employer you don’t want to become paranoid, but you need to acknowledge the fact that some of your employees will steal from you. You can take control of the situation by hiring professionally trained security guards from a reputable security guard service like National Security Service (NSS) as part of your overall plan to reduce employee theft.
Why Would Your Employees Steal from You?
Security services know that employee morale is important in any workplace. Employers want to see their employees satisfied with their jobs and working for the common good of the company and their fellow workers. But life happens and sometimes an employee’s attitude can deteriorate if faced with difficult circumstances at home or elsewhere.
For instance, an employee’s financial circumstances may change and they desperately need money. Or a disgruntled employee who didn’t get that anticipated pay raise or was passed over for that lucrative promotion figures they’re entitled to steal as compensation. Even long-term employees can fall victim to the clutches of crime. Whatever the circumstances, security guard companies may be able to help reduce the impact of employee theft.
How Can Security Guard Companies Help?
Employee theft affects everyone in the company. If profits go down, bonuses and pay increases may vanish from employee pay cheques because the employer can’t afford to offer them. According to Statistic Brain findings, 33% of all business bankruptcies are caused by employee theft.3That’s a lot of people who could end up out of work if a bankrupt business goes into receiver ship or a company ends up going out of business.
Security Guards can help keep people working by preventing theft in the workplace. Not many employees like to be watched, but security guards should be viewed by employees as professionals who are protecting their safety and helping the business owner prevent the bottom line from slipping because of employee theft. Security guards may catch an employee stealing or report suspicious behavior. Security guards are specially trained to identify situations that require immediate action.
Employee Theft is a Sad Reality
Employers have to deal with the troubling and costly issue of employee theft. Enlist the services of security guards from NSS, one of the best security companies in the US to help prevent loss to your bottom line from employee theft. It’s a win-win situation for everyone.
National Security Service (NSS) is a recognized leader in the security industry with 437 offices spanning all 50 states. NSS provides quality, professional, fully trained, and licensed Security Guards In New York protecting people and property with integrity and respect. To learn more, visit our website at www.guardstogo.com.
1,3StatisticBrain.com, “Employee Theft Stats,” April 1, 2017.
2National Retail Federation (NRF), “National Retail Security Survey 2017.”