Question

In: Economics

What types of action have been taken by employers to combat employee theft?

What types of action have been taken by employers to combat employee theft?

Solutions

Expert Solution

Answer- Employee theft refers to any misuse or abuse of the employers or business assets and properties like cash, data and information, objects, goods etc. by employees for personal benefit.

Some of the action have been taken by employers to combat employee theft are-

1: Hire Honest People- The employer who wants to prevent employee theft must usually hire honest people and make confirmations and check their background and previous records in order to ensure that they are honest.

2: Zero-tolerance Policy- Another effective measure is to formulate a very strict zero-tolerance policy against such activities and reduce earnings as a punishment for theft. Clear illustrations of prohibited behaviour and penaty must be explained to each employee.

3: Reduce Temptation of theft- It is another way to prevent theft by making stealing very difficult by installing security cameras and keeping valuables properly secured.

4. Strict monitoring- Strict monitoring of employees actions and behaviour can prevent theft. Based on the kind of employee, monitoring must be specific and monitor ordered items and parcels by approving beforehand.


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