Employee theft costs small businesses $10,000: ADT Security

By Keri Algar

SYDNEY, NSW: What is known as ‘sweet-hearting’ could be costing small businesses up to $10,000 annually and it turns out Generation Y are not the only ones to blame, according to a survey commissioned by ADT Security. Generation X accounts for 45 per cent of the in-house theft and Baby Boomers are responsible for 30 per cent, according to the survey which questioned 500 small business employees and 500 small business owners.

ADT Security managing director Mark Norton, said the financial loss can be devastating but there are ways to reduce stock shrinkage.

“Business owners can help minimise the risk of employee theft by performing regular and spot audits of stock and finances, rotating staff through different jobs, creating a positive workplace environment and showing they value their employees,” Norton said.

“We would also recommend they implement a comprehensive security plan which identifies security threats and trouble-shoots potential weaknesses, as well as installing physical security measures such as intruder alarms and monitored video surveillance.”

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