For many small business owners, there’s no such thing as a small loss due to theft or fraud. When a dishonest employee is the cause, it only compounds the injury. There’s not only the financial burden of the crime, but the loss of an employee and the trust in your workforce.
Is employee theft really a problem? A recent study found that, in a retail setting, one of every 27 employees was apprehended from their employer for theft. In an office environment, office fraud lasts an average of two years before it’s detected. Apprehensions of employees for dishonesty spiked nearly 10% from 2015 to 2016, according to a survey of retailers.
How to Watch for Employee Theft & Fraud
Some danger signals that you should look out for are: