Prevention of Employee Theft Essay

Theft is a general term that refers to a wide variety of misconduct by which an individual is wrongly deprived of their property. Theft has been an ongoing issue for several years and is taken very seriously. Many different types of theft include property theft, petty theft, robbery, embezzlement, receipt of stolen property, and newer forms of electronic theft, such as

Company X is committed to providing education for each employee to report unethical behavior and resolve conflicts without fear of retaliation. One such example would be the need to report employee theft. Employee theft is not only unethical but could also be criminal in nature. Regardless of employee status (entry level or upper management), each employee should feel it their responsibility to report any unethical behavior they observe. Employee theft can range from theft of money, time, office supplies or merchandise to providing proprietary information to unauthorized entities. These activities can result in a negative public image of Company X and should be reported as quickly as possible. Prior to reporting such offenses, each employee should ensure the accuracy of the evidence they will be reporting. There are various methods to report such abuses including but not limited to an anonymous toll free hot line number, verbal or electronic reporting to the local Human Resources office and the open door policy which encourages employees to approach members of management without the fear of

The final step in financial control is training your people. Everyone must be prepared to identify any irregular behavior. This behavior is not just with regards to the bookkeeping, but individuals whom are displaying signs of unexplained wealth, extreme changes in demeanor, or financial hardship, could be potential threats to the financial health of the organization because of illegal behavior or a propensity to such behavior. An anonymous whistle-blower program can help to provide employees with a way to report suspected colleagues for suspicious behavior without a fear of retaliation (Clevenger, 2009).

Cash is such an important current asset to a business, especially for the every day running of it, so ready access to cash is crucial. Therefore, every company must utilize safeguards to protect and manage their cash. An alarming statistic in one of The National Restaurant Association’s (NRA) reports shows that employee theft cost $8.5B to its members in 2007 – the equivalent of 4% of food sales. Furthermore, only 10% of employees do not commit fraud in any situation, while 5% do commit fraud, and the other 85% will actually consider

Employee theft is a tremendous expense each year and employers believe that these tests will remove the largest potential offenders. Employee theft is a tremendous expense each year and employers believe that these tests will remove the largest potential offenders.

In today’s society, people can be dishonest and cheat their way through life. Working in anywhere, your bosses and coworkers have to gain your trust. For over a year now, I work at Panera Bread. We are always hiring new staff throughout spring and summer. People come and go for stealing food or not treating customers with respect. Until recently, one of my managers experienced embezzlement. My manager is sending her child off to college and taking care of the rest of her family, which is a big expense. Someone apart of our staff stole three hundred dollars from her purse. She lost her whole paycheck that she had earned.

Committing a corporate crime seems tempting at times, and the culprits usually feel as if their crime is justified. They justify their choice to steal from the company by assuming that the only person who would be affected is the CEO, or somebody that would not notice a dent in their hefty salary. However, it is naive to think of these types of crimes in a way that doesn’t adequately explain the ripple affect each crime has on society.

It is critical for small businesses to make sure that they maintain control over their company and prevent this type of behavior ever being part of the corporate culture. It is important to know that most employees are not inclined to steal and that 80% will only steal due to the opportunity and likelihood that they will get away with it. This temptation can also be applied to business owners and it is important to know the temptations that may arise and cause employers to illegally increase their income as

Organizations will benefit from reducing feelings of job insecurity and threats of unemployment.The authors state that if healthy and productive organizations strive to succeed, they need healthy individuals to perform at high levels. If employees do not feel like as though their workplace is secure, the organization will not succeed. The authors reference a study conducted by Ludy (2009), which reported that cost-cutting can effectively take place without employees losing their jobs. In his study, Ludy (2009) writes about a process for organizations to reduce costs without letting go staff. His process provides all employees with opportunities to participate in the developing ways to reduce costs and improve efficiency. To bring light to job insecurity employees should form problem-solving skills that promote effective actions and solutions to cut down costs. To come up with up with solutions, employees need to create a management team, prepare the team and the organization for the process, generate creative ideas and solutions, document the outcomes, and monitor the progress and follow up (Burke & Singh,

When discussing all forms of workplace deviance it is estimated that the cost associated to take preventive and corrective measures for it are in billions and a total loss account for 50 billion dollars annually in U.S .An estimated figure states that 95% of organization in U.S experience employee theft, talking about third world country like Pakistan the case might be worse if not similar. The astonishing stats tell that workplace deviance causes a serious dent to productivity and profitability of an organization and the reasons need to be addressed by the researchers (Hastings & Finegan, in press). In the past several years such behavior at work has been under severe consideration by the critics and

Is stealing becoming more acceptable in the workplace? Generally, when people think of stealing or theft they are referring to the act of physically taking property from someone else. In reality there are many different ways that an employee can steal from an organization, and I have seen three different ways in my short career. The basic definition of theft is the wrongful taking and carrying away of the personal goods or property of another, and this is one way in which people can take away from an organization. The most common way for people to steal from an organization is theft of time, and this includes; taking extra time on breaks and

Over the past two years, corporate America has endured a plethora of fraudulent acts committed by those of high status within their respective corporations, most of which involve internal fraud. Internal fraud has two main aspects, misappropriation of assets and fraudulent financial reporting, with the focus of this discussion lying within the former. Misappropriation of assets is defined as fraud for personal gain. It is the most common type of fraud found among employees and frequently includes theft of cash and inventory.

Need to get be better rewarded: theft is a symptom that managers are not well remunerated. Pocketing the

Companies with a constant turnover of low-salaried part-timers or large businesses lacking competent supervisory personnel to oversee operations, leave themselves open to intentional or unintentional sabotage. Underpaid and undervalued employees, especially when unsupervised, lack any sense of obligation to their employer. They often demonstrate

This section of this chapter aims to interpret the findings and critically evaluate the study. This research indicates that internal control can prevent and detect fraud in Nigerian banking sectors. The first section of the findings contains the first objectives of this research which is to find out the employee knowledge based on the concept of fraud in banking sector. Therefore, According Biegelman, Martin T, (2013) said The penchant for extortion happens when three basic components meet up; intention, opportunity, and rationalization each of these components is fundamental and interrelated all together for a man to commit fraud and the nonappearance of any of them would not permit a man to commit fraud. Opportunity is the driving variable. Without circumstance, fraud plan can 't succeed. Similarly, if a person 's honesty is affected by pressure and justification, and opportunity presents itself, unless the individual has the ability to confer the extortion, the plan won 't succeed (Dennis M. Lormel 2011). However, from the researchers’ findings having asked the staff at the bank there what they think fraud is, 50% of the respondent defined fraud as an illegal act of acquiring wealth, Aderibigbe (1999) and Onibudo (2007) also contributed to fraud immensely, these authors mentioned that one of the causes of fraud is because of inadequate compensation no increase in salary or fringe benefit given to staff, poverty and infidelity of employees fraud is bound to