I need a free essay on theft in the workplace in 2021
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Why is prevention better than cure for employee theft?
The saying that ‘prevention is better than cure’ is applicable when preventing employee theft in the workplace. It’s obviously best for your business if you could weed out employees who are likely to steal from you before they even get access to your business.
How is employee theft a problem in the workplace?
The repercussions of employee theft on businesses are severe – with 30% forced to close because of internal stealing. The problem that businesses face in trying to prevent employee theft in the workplace is that the stealing takes many forms including:
What do you need to know about internal theft policy?
You need to send out a message to the rest of your employees that theft – in any form – won’t be tolerated in your business. Your theft policy should be part of your employee’s signed contract so there will be no excuse for not knowing about the punishment. You should also reinforce your internal theft policy during team training.
How many employees have stolen from their employers?
According to research, 75% of employees have stolen from their employers. The same study found that employee theft accounts for 42.7% of shrinkage while shoplifting only accounts for 35.6%. This is especially crucial for small businesses because they are more likely to be the victims of internal theft (64%).
Last Update: Oct 2021
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22.10.2021 00:40
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26.10.2021 11:56
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Employee theft is characterized as any thievery, use or abuse of an employer's assets without license.
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