08
Nov

Top 3 Tips for Preventing Employee Theft

Employee theft is negatively impacting petrol station businesses across Australia. This problem includes theft of supplies, money, merchandise, time, or information, causing petrol stations on average to lose about 5 percent of their yearly revenue. Small businesses are often more strongly impacted, since they often have fewer systems in place to protect their assets.

Luckily, there are a variety of ways management can encourage a positive working environment and prevent employee theft.

1. Hire the Right Team
An effective way to prevent employee theft is to strengthen your hiring process. Implement a background check, call references, and spend quality time interviewing potential employees. Find team members who fit well with your business and working environment.

As you build a strong, unified team of employees, they will likely be more dedicated to the company and happier to be a part of it. Happier employees who are more connected with their team are less likely to commit theft, and they will likely contribute more to the company overall.

2. Implement Effective Training
Create a comprehensive training program that clearly outlines your company’s procedures and policies when it comes to topics such as money, inventory, and shift reporting. Communicate well with your new employees so that they know what’s expected of them, in addition to outlining potential consequences of employee theft.

A clear and consistent approach to training helps your business to run more smoothly as well as reducing opportunities for potential theft. Encourage responsibility and use training to create a positive environment for employees.

3. Encourage Accountability
There are a variety of strategies for encouraging accountability at your petrol station. Implementing frequent check-ins on employees is known to successfully discourage theft. You can monitor shift activity such as sales and transactions in order to keep track of patterns between employees. Another tip is to apply technology such as security cameras.
If employees are aware that their progress is being monitored, they’re more likely to stay accountable. Finally, if you work to create a company culture where accountability is valued, this will help team members to follow suit.

As you establish a system to discourage employee theft, add in these approaches while considering your businesses unique attributes. By combining strategies such as check-ins and communication of potential consequences with a strong team and a positive work environment, you can both strengthen your business and prevent theft.

If you need further help and advice on this topic, feel free to contact us for help.