Controlling Employee Theft
By Dan Bergs, CPA
You must also have a plan. Educate your staff on ways theft is committed, detected and how much it can truly cost the company and then put into practice a theft prevention program. Some fairly common practices include installing cameras; randomly closing out a till partway through an employee’s shift; setting up manager passwords to ring in discounts; counting inventory often and comparing your actual inventory to your reports; and locking up certain inventory that can commonly go missing, such as liquor bottles, and limiting access to it.
Let employees know the consequences if they get caught stealing and follow through with it if someone does get caught. This will provide an example to other employees, and will often prevent others from committing the same crime. Finally, reward employees who work hard and do a good job. If your employees feel respected and appreciated they are less likely to steal from you. Having good morale in the workplace goes a long way. Putting procedures in place to ensure that employee theft is reduced or eliminated can greatly improve your bottom line.
South Dakota Licensed Beverage
Dealers and Gaming Association