Asset Surveillance :: Employee Theft

EMPLOYEE THEFT - THE ULTIMATE BETRAYAL

We would all like to think our employees are loyal, trustworthy, efficient and dedicated to the success of the business. Temptation, greed and external pressures place employees in a position of potential betrayal every day and however small your problem may appear to be, it may only take one or two individuals to send your business into bankruptcy.

Too many businesses use the wait and see approach to internal theft, waiting too long and seeing their assets diminish through trust that was given, not earned.

Employee Theft is a major problem in Australia

The fact is, employee theft is perceived by many experts to be the most severe problem facing industry today. Unfortunately, many other people think of theft in companies as being isolated acts which cost their business little; attaching most of their losses to external factors such as shoplifting and wastage.

Some operators even choose to turn a blind eye to staff theft: Employers may be unwilling to hound staff because of the effects on morale (It may be cheaper to ignore it as a perk to keep otherwise satisfactory employees).

Sadly many employers have felt helpless to act for fear of industrial action or union intervention. Even when reported to the Police they have had little success due to lack of evidence. It is doubtful that banks would be willing to reveal employees savings accounts.

Asset Surveillance is helping employers fight back with state-of-the-art surveillance equipment that provides solid irrefutable evidence for use in court prosecutions or unfair dismissal cases.

Internal theft is a far greater problem than most of us care to believe. To put the problem into perspective, below are some surprising facts that are widely accepted by experts:

A majority of employee theft goes undetected by management.
Nearly one third of all business failures have been linked to employee theft.
Most thefts committed by employees go unreported - Australian Institute of Criminology
Nearly every business experiences some degree of employee theft.
In Australia theft by staff is estimated at $500 million per annum - National Retail Crime Prevention Council
Employees committed almost 80 per cent of fraud - results from 2 year study of Fraud by KPMG
A majority of honest employees look the other way regarding employee theft and fail to report it.
Dishonest employees steal to the degree the system allows and don't stop until they are caught.

This news article from the Daily Telegraph also outlines the severity of employee theft.

If you simply cannot explain stock or profit losses or even suspect your business is experiencing internal theft - ACT IMMEDIATELY! Understanding the true nature of the problem will provide you with piece of mind and ultimately protect your business.

Site design by Michael Efford.

This site’s design is only visible in a graphical browser that supports web standards, but its content is accessible to any browser or Internet device.