Employees that steal from your organisation not only deprive you of your money, but they also deprive their coworkers. This is true in terms of financial damages for all parties involved, as well as the sort of atmosphere generated as a result of theft. Tension arises, as well as mistrust and unfounded rumors. As a result, management frequently responds by enacting harsher laws that limit the liberties of the whole workforce.
Theft of corporate property or funds costs the firm the same amount as the loss and might result in further financial problems. It may be required for management to invest in more stringent security measures, such as video surveillance or the appointment of a guard. Employees may lose money in the form of salary hikes and bonuses as a result of these additional expenditures.
The additional costs imposed by the employer may prohibit the firm from investing in marketing and promotions that would increase sales, resulting in the company, and hence its employees, failing to profit from the anticipated growth.
Uneasy Environment for Employees
Following a known occurrence of employee theft, the working environment may alter. Employees and management are frequently tense and mistrust of one another. Employees who are worried about the incident may find it difficult to focus on the job at hand, causing output to lag.
Employees frequently respond to theft by mistrusting the company, resulting in a negative work environment. It may be important for the small business owner to intervene and reassure employees that the matter has been resolved and that additional safeguards have been put in place to protect the company’s assets and employees’ personal belongings.
Gossip is on the rise
When there has been a theft at work, rumours may spread quickly. Employees are understandably interested in finding out what was taken, who committed the crime, and how the problem will be handled. Time spent speculating among coworkers might obstruct the timely completion of professional tasks. It can also lead to accusations that are unfounded.
The simplest approach for an employer to stop theft-related talk is to host a meeting where he or she may quickly summarise what happened and answer specific questions from the employees. Employers should not give away sensitive information or facts, according to an article in Eye Care Business, as this might lead to legal complications.
Regulations that are stricter
Following an episode of employee theft, a small business owner may introduce new laws for the company. Rather than leaving important assets unattended for workers to utilise, you can consider locking them up and requiring an employee to “check out” essential tools or machines.
Installing a security camera is another option that many organisations utilise to help prevent repeat thefts. You might also ask employees to refrain from bringing personal stuff to work and to store all personal phones and other personal property in lockers.
How Does Employee Theft Affect Other Employees?: These sorts of limitations can have a negative impact on employee morale, as they may assume they are being monitored too closely and are thus guilty by association with the person who stole.