How to protect your business from employee theft

Despite the threats to your business from the outside, like burglaries, fires, or vandalism, there are many that come from within as well. The most common yet quite harmful is employee theft.

It's a silent danger that may damage your company in ways you can't even imagine. The consequences might be devastating, from stolen supplies to embezzlement of a business budget to intellectual property theft. That's why taking proactive steps to prevent employee heists and protect a company is essential for its owners or managers.

You probably want to know how to implement this. Sure Lock & Key will outline the most effective ways to recognize the warning signs and deter employee crimes in our new article. Keep reading to provide your business with the most effective security measures!

Create an anti-theft policy

The first step in providing commercial security is creating an anti-theft policy. It's a wise way to ensure employees realize the effects of crimes. By working with your attorney, you can make it clear, specific, and efficient.

The policy should provide examples of illegal behaviors, including stealing, unauthorized access to company data, and misuse of company resources. A well-created anti-theft policy may also include regular inventory audits, limited access to sensitive areas, and surveillance systems.

By clearly delineating all the consequences of any crime, this policy will serve as an efficient deterrent to potential thieves among your staff.

Use video surveillance

A video surveillance system has at least two main functions in commercial security.

Despite acting as a deterrent, it also catches facts of committed crimes, making it an integral part of a future court case. Installing cameras in the weak points of your building would be the wisest addition to your existing security system. Your employees will be on their best behavior when knowing they're watched. The following benefit of this security measure is the possibility of managing your business offsite by connecting cameras to your mobile phone.

Yet video surveillance should be balanced with respect for employee privacy and the necessity to handle the core causes of employee theft.

Monitor employee behavior

Monitoring employee behavior may be an effective approach to detecting and preventing theft even before it occurs.

This security measure lets employers identify behavior patterns that might point to theft, like employees accessing inventory without an acceptable reason, engaging in suspicious financial transactions, strong objections to procedural changes connected to financial, inventory, or supply matters, obsessive gambling, endless borrowing, or bad check writing, etc.

However, it's important to provide this monitoring ethically and legally.

Control data use

Another practical way to safeguard your business is managing data use. It's essential to ensure that every single employee has access only to the required data. Through password protection, encryption, and other safety measures, this security approach will prevent stealing confidential information like business reports, financial information, etc.

Additionally, managers can control company computers using software monitoring tools or regular audits of devices' activity. It'll help to detect suspicious data transfers or other doubtful activity.

Implement a two-step verification process

Another useful strategy to prevent employee theft is enforcing two-step verification. It requires an extra piece of information to confirm the identity in addition to the existing login process.

The first validation layer usually involves a username or password. The second one requires additional authentication, like a unique code, a fingerprint, a facial scan, or a hardware token.

It offers peace of mind to business owners, ensuring that only reliable people have access to important information. A two-step verification process is relatively easy and can be realized with various software tools or special security devices.

You can always use professional security services if you're not confident in your skills.

Control your keys

Despite cutting-edge devices, there are some underestimated protection approaches. Keys control is one of them. Neglecting this process might make your business vulnerable not only to employee theft but also to outside dangers.

The wisest idea to control access to valuable areas or items may be using high-quality locks. There is a wide range of options on the market to suit each special needs and requests. While searching for reliable solutions, you might come across smart locks. Their main benefits are state-of-art technologies, versatility, efficiency, and ease of use.

Unlike mechanical keys, the newest ones can't be lost or fall into the wrong hands.

However, if you are a fan of traditional options, you may significantly reduce the risk of employee theft by monitoring key use and access to all important areas.

Summing up

Preventing employee theft and keeping your business on top requires proactive steps.

By securing weak points, restricting procedures, keeping records, and training employees, you may significantly reduce crime risk and protect valuable assets. Your organization's security is in your hands. Yet it might be challenging to deal with this independently, so Sure Lock & Key is always ready to assist!

We offer a full range of security services to keep you safe and secure at whatever time and place you might need it.