Several corporate security experts estimate 25 to 40 percent of employees steal from their employers. This statistic is shocking when you think about the number of employees you have. To put this into perspective — a quarter or more of those employees may be taking from your business. At PATRIOT Backgrounds & Investigations, serving Davie, FL, and the surrounding area, we offer a private investigation service as part of criminal investigations services to catch these individuals, but we believe prevention is crucial in protecting your business.
Pay Your Staff What They Deserve
Whether an employee believes they deserve more money or you genuinely aren’t paying them a fair wage, they may steal from your business to compensate. This is especially the case if they’re struggling to put food on the table, a roof over their family’s head, etc.
If you’re unsure of the standard pay for each position, take some time to research. The Bureau of Labor Statistics (BLS) provides updated information about the average salary for different careers, both on a state and local level.
Offer Raises Routinely
As the cost of living increases, your employees may struggle financially. Therefore, you should ideally offer cost-of-living raises to ensure your staff can continuously afford to live comfortably.
Additionally, employers tend to give routine raises to their employees to thank them for their loyalty. Raises can also be given when you notice an employee is going above and beyond for their job habitually. It’s a way to acknowledge their outstanding performance. When you offer raises, you show your employees that you care and recognize their hard work. As a result, your staff will feel appreciated.
Provide Benefits
Health costs are a major expense for families. The average wellness visit alone is $199 without insurance. This isn’t factoring in the price of medications, testing, etc. To curb costs for your employees, offer decent benefits so employees aren’t swallowed alive in medical debt or avoid healthcare services to prevent debt. By doing this, your staff will have one less reason to steal.
Conduct Background Checks
Before you hire anyone, always conduct a background check. At PATRIOT, we offer background checks so you can find out about your prospective employees’ criminal histories. You then know if a prospective employee has a previous history of theft. As a result, you can make informed decisions about the members of your team.
Provide Incentives
Consider offering incentives to your employees to keep them happy, such as a catered meal once a month, free tickets to events, raffles, a snack bar, or other similar rewards. These gestures send a message to your employees that you appreciate what they do for your business. And happy employees who feel appreciated will be less likely to take from your company.
Build a Strong Relationship With Your Staff
Don’t be the boss who hides in their office all the time. Work with your staff as much as possible to improve their performance. Check in on your employees regularly to see how they’re progressing and if they’re experiencing any issues. If they are, address those problems and concerns.
Above all, make sure you treat your staff with respect. Be friendly and understanding. When you build a personal relationship with your employees, they’ll be less likely to steal because they’ll look at you as a person and not just their employer. Plus, when you create a positive environment, your employees will be more likely to be positive and strive to do well.
If you notice signs of theft despite your best efforts to prevent it, it could be time to hire a private investigation service in Davie, FL. At PATRIOT Backgrounds & Investigations, we offer background checks and criminal investigations to stop theft in your workplace. Call us at 954-372-1103, or use our contact form to discover how we can help your business.
