Almost one in five people have been affected by crime in the workplace, according to a new study conducted by Expert Security UK.
In the UK, employee theft accounts for over £2 billion in lost revenue. Photo credit: Fotolia
According to the BDO’s latest Fraudtrack report, the total value of reported fraud in the UK reached £798 million in just the first half of 2015. It found that 32 per cent of that figure can be directly attributed to employees, costing organisations an estimated £46 million.
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Danny Scholfield, Sales and Marketing Director at Expert Security UK, gave his opinion as to why CCTV systems are so effective.
“Installing a CCTV system ensures that not only can you source where losses are coming from in the event of theft, but it can also deter others from stealing.”
Depending on the size and scale of your business, Scholfield suggested installing access systems to protect premises.
“Keeping your business premises clean and tidy is vital, because if it’s clear that a building is unkempt and poorly-maintained, it gives the impression that this goes for security too. To opportunists, this could be an indicator of bad security measures. Also, if you have materials lying around the building, these could be used to break in.”
Small businesses are vulnerable to internal crime as they lack the tight monitoring and security measures put in place by larger organisations.
A report titled: Tackling Staff and Dishonesty, jointly published alongside the CIPD, acted as guide to raise awareness of the potential threat posed by staff fraud and dishonesty and to provide examples of generic best practice that can help employers manage and mitigate the related risks.
John Hinds, Policy and Projects Manager of CIFAS, advises that employers must find the right balance. He said: “Employers must tread a line between, on the one hand, ensuring employees don’t misuse business property or systems or carry out any illegal activity, and, on the other, fostering a culture of mutual trust and respect.”