If you’re under the impression that employee theft or fraud is something that seldom happens in this day and age then you might want to think again. It actually costs many larger organisations around 5% of their total revenue each and every year. This equates to a staggering $1.5 billion dollars in Australia alone. According to Statistics Brain the online survey site, it suggests that 70% of all business fraud is down to employees and former employees. The collapse of white goods retailer Clive Peters is a case in point. It turned out that their sorry financial situation happened to be exacerbated by $20 million worth of employee fraud.
While this is clearly a worry for many Australian businesses there are steps that you can take to make sure that your company doesn’t go the same way as the former. Here are some examples of how you can lessen the chance that it happens to you.
Pre-employment background checks
With more and more companies using off-site personnel, many businesses are employing people they don’t really know. As a result, the issue of trust is becoming more and more of a big deal for many employers. In order to get over this problem, you might want to think about running background checks. The simple fact of knowing that the person you might be hiring isn’t a notorious criminal, or has had problems with workplace theft or fraud in the past is sure to be a big relief. This is particularly true when you’re looking to hire people in positions of trust such as cash handlers. The good news is that you don’t have to do this yourself (although you probably could). Instead of a fee, there are reputable and professional companies out there who will do this both quickly and efficiently, giving you total peace-of-mind when hiring.
Alternatively, you might want to think about hiring on-site security personnel who are trained to spot suspicious activity. Often the very sight of seeing a security person is enough to put people off the idea of committing fraud or theft and this is something that more and more companies are doing. Whether this is in the role of concierge service or a static guard they can be employed either full or part-time or even on an ‘as and when’ basis.
Finally, there’s CCTV. Nowadays CCTV equipment is easy to access and more controllable giving the employer or indeed a remote facility, the chance to closely monitor the shop floor, warehouse or office.
Hopefully, this has given you 3 great ways that you can lessen the effect of fraud or theft in your workplace. If you want to find out more about how you can protect your business then contact MA Services Group. We have a wealth of experience in providing security service and have been protecting the businesses of Melbourne and the surrounding areas for many years. Contact us today on 03 9994 4107 and speak to our friendly staff for a confidential chat.