See if you're eligible for a loan, it only takes 30 seconds...
1. Your Business (10 seconds)
2. Monthly Sales (10 seconds)
3. About You (10 seconds)
Please Choose Type of BusinessBed & BreakfastBusiness ServicesConstructionEntertainmentEnvironmentalFranchiseHair & Beauty SalonHome ImprovementHotel/HospitalityLegalManufacturerMedicalMOT/Independent GarageNail SalonOff-Licence BusinessPersonal ServicesReal EstateRestaurant or PubRetailSpaTransportationVeterinaryWholesalerOther
We all like to think we’re a good judge of character. Then again, many of us had Barry Bonds posters on our walls growing up so maybe that’s not an attribute any of us should be too quick to claim.
Especially when running a small business, sometimes you just don’t have the time, resources, or energy to investigate a potential employee as closely as you should. And sometimes that oversight leads to them taking things that don’t belong to them – AKA employee theft.
Employee theft actually accounts for eight times more losses to companies than shoplifting.
But it’s a dicey issue, and wrongly accusing an employee of stealing – whether it’s a bartender or a bookkeeper – can lead to serious ramifications for your business. So how do you handle employee theft? Here’s a step-by-step guide on how to deal with employee theft before, during and after.
The first step to effectively knowing how to handle employee theft is realizing that it’s occurring. With that thought in mind, here are some signs to watch out for:
While none of these is drop-dead proof that a particular member of your staff is stealing from you, each one (or more than one together) could signal that you’re dealing with a case of employee theft.
So, how do you handle employee theft if that’s what you believe is occurring? Here are some options to consider:
Once you’ve let your employee go in an effort to stop the theft, your work is not done. In fact, when it comes to properly handling employee theft, there are a few different things you can do after the fact that can keep this type of situation from going from bad to worse.
Now some of these steps may not be completely necessary. An employee stealing office supplies is probably not going to extract vengeance by wiping out your entire database, but these are all definitely things to consider. Even long-time employees we know and love can be capable of employee theft, and handling it correctly can at least ensure the damage doesn’t go much past what’s already gone.
Learn how we help our customers around the country grow their small businesses—and thrive.