An Inside Job: The #1 Way to Curb Employee Theft
Billions of dollars are lost every year because of employee theft — and many times that theft goes unreported by business owners. The U.S. Chamber of Commerce reported that 75 percent of employees will steal from their company at some point, and many do it repeatedly, costing U.S. businesses about $50 billion annually.
Most companies, at some point, will lose at least 5 percent of their revenue to internal theft. The big question is: How do you prevent it from happening in the first place?
Since most employers have trouble reporting internal theft — many citing loyalty to their employees despite their crimes — the most effective way to make sure your workforce is not taking from the company till is to put barriers in place to dissuade employees.
According to Entrepreneur Magazine, keeping a “virtual eye” on employees could be one of the most effective and least intrusive measures. If your team knows your assets are inventoried, protected, and tracked by an external system, the incidents of theft decrease dramatically. By nipping theft in the bud, you’re avoiding hefty expenses associated with recovering your assets, prosecuting employees, and/or replacing assets that can’t be recovered.
What is the #1 way to prevent theft?
A popular choice for companies who have expensive equipment, such as heavy machinery, is to implement a system such as Actsoft’s Asset Tracking tool. This tool basically locates and manages assets around the clock, providing up-to-the-minute alerts you create. This GPS- and motion-based tracking system gives you the power to oversee deliveries, construction, and other out-of-office jobs efficiently and easily. Important features like alerts and reports eliminate the worry of not knowing where your high-value assets are. Trackers attached to your shipping cases and equipment immediately pinpoint their location — so you will receive real-time updates letting you know when assets are moved, doors are open, and other instances dictated by the custom parameters you set.
What customers are saying:
“The tracking unit told us immediately that the truck was stolen. Within hours it was found with minimal damage. All of our trucks have expensive tools locked on board. Thanks to the device, we recovered the vehicle before further damage was done.”
—Andy O’Kelley, vice president of operations, Brooks-Berry-Haynie & Associates
Don’t be a victim of theft. Call Actsoft today to find out how you can save money, time, and resources the budget-friendly and reliable way.
Have any questions on how Actsoft can help you?