Sad, but true – employee theft is a significant problem nationwide, and retail businesses are far from the only companies affected.
From office supplies to electronics to cash to data, approximately 75% of employees have admitted to stealing something from their employer at least once, says the U.S. Chamber of Commerce.
And according to the Association of Certified Fraud Examiners:
- A company loses 5% of its annual revenue as a result of employee fraud.
- Small businesses are the most vulnerable to not only loss, but catastrophic loss.
And because perpetrators tend to steal from their employers over an extended period of time, instead of one fell swoop, this sort of crime often flies under the radar, making it difficult to recognize and reprimand.
BUT: When employees know they are being monitored, they are far less likely to give into any sticky-fingered impulse.
Here are just 4 ways CCTV systems aid in deterring employee theft:
- They’ll Always Feel Like Someone is Watching Them. Install cameras. And make it known that you’re installing cameras. Circulate that memo. Hit send on that companywide email. Some outright criminals may jump ship. Everyone else will be put on notice.
- Video Surveillance Can Help to Make Change. Retail stores and restaurants should make certain to train cameras on the cash register area. This not only deters employees and customers alike from criminal activity, but it also provides concrete proof should any cash ever go missing. It is also prudent to install CCTV systems in any high-profile or high-value area and consider integrating them with electronic access controls.
- The Clock is Ticking on Criminal Activity. Theft does not need to involve the loss of physical goods or funds to be damaging. Timecard fraud, such as buddy punching, ghost employees, Internet time theft, and more can all chip away at a company’s productivity and profits. In many cases, an employee may not even be aware they are guilty of such behavior, with unlogged time instead a byproduct of faulty tracking software and systems. Regardless, it pays to be vigilant. Suspicious about an employee’s logged hours? CCTV systems – particularly when integrated with other security measures such as access controls – allow you to roll back that footage and find out what’s what.
- You’ve Covered All Angles. While not straight-up burglary – malicious or vengeful employees could one day hit your company with false accusations and liability claims about injuries on the job or other tall tales. Such erroneous liability claims can sink a company fast. But CCTV systems can provide proof that a situation occurred the way you say it did, not the way the person who is attempting to rob you blind tells the story.
Not only can CCTV systems curb employee theft in your workplace, but they have also been proven to reduce instances of sexual harassment and workplace violence. When employees realize they are being watched, they tend to behave accordingly.
Secom provides top of the line CCTV systems designed to keep an eye on your business from every possible angle. Our specialists can also integrate your video surveillance system with other security solutions, such as access control, visitor entry systems, alarms, and much more, to ensure continued productivity while discouraging employee theft and fraud.
Questions? Call us at 240-374-1475 or reach out online today.