Employee theft has emerged over a number of years due to lack of verification procedures. The cases of Tyco and Enron executive thefts have revealed a shocking truth of huge frauds within the organizations and across the organizations. Apart from these extreme cases, there is huge number of small thefts that occurs almost on a regular basis in different organizations across the world.
Every year, billions of dollars are lost just due to the employee thefts and frauds in both large and small organizations. However, it is quite difficult to figure out the fraud but some telltale signs can aid in pin pointing the potential threats. Some emblems of suspicious employee can be as follows:
- Unusual Performance
- Suspicious behaviors
- Missing documents
- Frequently utilized names & addresses for refunds etc.
- Apprehensive conducts
Below-mentioned are a few tips about the employee verification for the prevention of employee theft and fraud:
- Employee Criminal Background Check
Never forget to seek out the criminal records (if there are any) about the potential employee, this will let you analyze the personality ad violence level of a person. If a person is clean in criminal records than go for the other searches but if he was found guilty in any crime than look for what was the crime and the facts related to it.
- Credit History Screening
This step is as crucial as criminal record check in the background verification process as the individual’s credit history mirrors his reliability. If the candidate has a bad credit history, he can be identified on throat and the decision can be made accordingly.
- Zero Forbearance
At the very initial stage; let your employees realize that company has zero forbearance for any sort of employee theft or fraud cases. This must not only include the monetary fraud but also, sloppy working, late arrivals, early time-outs, wrong usage of sick leaves, long lunch breaks without informing the reporting person and false insurance claims etc.
- Intensify the Company Policy
Design, print and distribute the copy of company’s policy to each and every employee. Plus the company policy must also be present on the official webpage of the organization. The policy must state exactly what will constitute the stealing and fraud so that there will be no room for misperceptions. In addition, it will also help you to file a lawsuit against the employee who has breached the policy.