Why My Employees Won’t Steal From Me – 5 Myths
This article is reprinted with permission of its author, Libby Libhart, Loss Busters.com.
The statistics are staggering. The latest National Security Survey states that 45% of losses to retailers are attributed to theft by employees. The Association of Certified Fraud Examiners (ACFE) reports that 5% of revenues of a typical organization are stolen by company workers. The average internal fraud scheme goes undetected for 18 months. Small businesses are particularly vulnerable since they don’t have the resources or the processes in place to avoid and/or detect fraud activity. With no formal loss prevention programs in place, many owners and managers rely on their experience and expertise to react to incidences of employees stealing. Others rely on their beliefs, perceptions and ideals that their employees would not steal from them for a number of reasons. The following are myths associated with those ideological thoughts:
My employees would not steal from me because …
1. They Like Me – While it is true that good relationships with the boss may deter a small percentage of employees from stealing, research has shown that dishonest employees are driven by a number of factors. Loss Prevention professionals cite the presence of the Theft Triangle as the breeding ground for employee theft. When these elements are present in the workplace, employees may be tempted to steal or become involved in other counterproductive behaviours.