Tuesday, June 18, 2013

Tips For Controlling Employee Theft

In any industry, employee theft represents a loss of revenue for the owner. In instances there is has been allowed to run unchecked, stealing from the restaurant owner can cause loss of the business. Especially in the area of liquor, losses can quickly add up. However, it should be noted that there is a difference between carelessness with restaurant supplies and deliberate theft. Without creating an air of suspicion unnecessarily, implementing these tips for controlling employee theft improves financial profitability.

It is important for you to take time to think about a stated policy on the topic of theft. Define for your people whether eating a meal on a shift is allowed or not. Can employees take food home? What about tip money? Define the policy and make sure that each employee receives a copy. Presenting it in a matter-of-fact way will reduce the negative impact if this policy is something new in your organization.

You will need to be sure that you are able to determine whether or not thefts of money or food is occurring. There are software applications and tools that will red flag unusually high or skewed figures. These figures should be reviewed daily, as part of the routine for staying abreast of the financial management of your business. If you do not know how to set up a fiscal tracking system, find a professional who can recommend such a monitoring application.

Be certain that you have proof before confronting an employee who is stealing. However you should gather information and act on it promptly. The longer theft goes on, the more prevalent it is likely to become. If you have one employee only who is stealing and getting away with it, other employees often know about the problem even if you haven't figured it out yet. You will be better respected as an owner if the larcenous employee is disciplined or terminated according to your stated policy.

Security cameras are a good mechanism for proving theft. These cameras don't have to be a hidden camera, because they also serve as a deterrent to certain types of thievery. In fact, a statement of their use can be part of the policy that each employee receives.

Preventing or controlling employee theft is an important part of protecting your financial investment. State the policy, monitor expenses, use visual deterrents and act promptly when discipline is required. Maintaining a positive and affirmative work environment with fair practices toward all employees will improve morale and help to limit dishonest actions.