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From freebies for mates to $150,000 fraud, employee theft costs Australian business billions | Employsure News

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From freebies for mates to $150,000 fraud, employee theft costs Australian business billions | Employsure News

IF YOU’VE ever taken a pen, notepad, stapler or even a Post-It note home from the office, you’re part of a problem costing employers $1.5 billion a year.

According to the Australian Federal Police, staff and former staff are responsible for 70 per cent of business fraud, while the Australian Retailers Association estimates 55 per cent of stock shrinkage is due to employee theft.

“Employee theft is a reality that all kinds of businesses have to deal with,” said Michael Wilkinson, senior adviser with workplace relations firm Employsure. “It may take the form of a cashier ‘forgetting’ to swipe a friend’s purchase or an employee funnelling thousands of dollars into a personal bank account.” Read the full article here.

Workplace theft costing employees big bucks.

A missing pen, stapler or role of tape don’t seem like much, but when bigger ticket items start to go amiss it’s time to look at your business and staff and nip the problem in the bud. Employee theft is, by nature, not the easiest to identify, and often requires a fair bit of digging, monitoring or lengthy conversations to find out what is really going on in your business. The best approach to theft is a precautionary one. Make sure there are open conversations happening regularly with staff, encourage transparency and if you do think you need to install surveillance or start more direct action – consult with an advisor before directly accusing someone or acting on a theft. For more information on Employee behaviour and curbing those bigger issues, check out the following links:

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