Internal theft is, unfortunately, a constant concern for many business owners. Preventing employee theft should be made a top priority in order to minimize loss of product and money. Successful ways to prevent theft include securing your workplace, encouraging employees to report any employee theft they may witness, and hiring honest people from the beginning. It's easier and less costly to prevent theft than it is to stop it once it has begun.

Encourage Staff to Report Theft
Creating a culture of honesty can also go a long way toward preventing theft. When employees feel that it's their responsibility to report theft, they're more likely to go to a manager or owner when they become aware of another employee stealing. Likewise, creating a culture where employees feel as if they are part of a community can also help to prevent or decrease theft. Employees who feel valued and who have a stake in the business are less likely to steal and more likely to report any theft they witness.

Be Cautious When Hiring
While you can't ever guarantee that the person you hire will turn out to be 100% honest over the course of his or her tenure with your business, making the effort to hire honest people from the beginning will minimize theft. Make the effort to research your prospective hire's history, check references and consult prior employers. There’s also something to be said about trusting your instincts when making hiring decisions. If something doesn't feel right, listen to your intuition.

Secure The Workplace
Tighter building security can go a long way towards preventing and discouraging employee theft. A Toronto locksmith from Davies Lock & Door Services Ltd. says custom locks are great for dissuading employees who may be tempted to enter restricted areas. Not only will these prevent employees from accessing the business after hours, and they can also keep unauthorized staff out of areas for owners or managers only, where you might keep cash or confidential documents. Make sure that only managers and trusted employees who will open or close the business have keys or codes to the door, and be sure as well to keep anything valuable that isn't part of your regular inventory behind locked doors. Small business owners should also change locks and codes when key and code holders quit or become terminated, in order to prevent theft by ex-employees.

Any business can prevent and reduce employee theft by tightening workplace security, creating a culture where employees report theft, and make cautious decisions when hiring new employees. None of these require a lot of time, effort or money, but they are all worth the effort in the end.